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Problem 9-7 Calculating the Monthly Housing Payment [LO9-4) Ben and Carla Manchester plan to buy a condominium. They will obtain a $205,000, 20-year mortgage at

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Problem 9-7 Calculating the Monthly Housing Payment [LO9-4) Ben and Carla Manchester plan to buy a condominium. They will obtain a $205,000, 20-year mortgage at 5.5 percent. Their annual property taxes are expected to be $2,088. Property Insurance is $1,548 a year, and the condo association fee is $55 a month. Based on these items, determine the total monthly housing payment for the Manchesters. Use Exhibit 9.9. (Round time value factor to 2 decimal places and final answer to the nearest whole number.) Total monthly housing payment

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