Question
Rick Rueta purchased a $97,000 home at 8% for 30 years with a down payment of $15,000. His annual real estate tax is $1,884 along
Rick Rueta purchased a $97,000 home at 8% for 30 years with a down payment of $15,000. His annual real estate tax is $1,884 along with an annual insurance premium of $1,044. Rick's bank requires that his monthly payment include an escrow deposit for the tax and insurance. What is the total payment each month for Rick? (Round your answer to the nearest cent.)
Total monthly payment $
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Analysis for Financial Management
Authors: Robert c. Higgins
8th edition
73041807, 73041803, 978-0073041803
