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Suppose you take out a 3 0 - year mortgage for a house that costs $ 4 6 0 , 3 5 6 . Assume

Suppose you take out a 30-year mortgage for a house that costs $460,356. Assume the following:
The annual interest rate on the mortgage is 3.8%.
The bank requires a minimum down payment of 11% at the time of the loan.
The annual property tax is 2.4% of the cost of the house.
The annual homeowner's insurance is 0.7% of the cost of the house.
There is no PMI
If you make the minimum down payment, what will your monthly PITI be?
Round your answer to the nearest dollar.

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