Cost of Condo. Matt has found a condominium in an area where he would enjoy living. He would need a $5,300 down payment from his savings and would have to pay closing costs of $2,657 to purchase the condo. His monthly mortgage payments would be $536 including property taxes and insurance. The condominium's homeowner's association charges maintenance fees of $409 per year. Calculate the cost of Matt's condo during the first year if he currently has the $5,300 down payment invested in an account earning 5% interest. The cost before tax benefits of Matt's condo during the first year is $. (Round to the nearest dollar.)