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Suppose you take out a 30-year mortgage for a house that costs $484,471. Assume the following: - The annual interest rate on the mortgage is

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Suppose you take out a 30-year mortgage for a house that costs $484,471. Assume the following: - The annual interest rate on the mortgage is 4.1%. - The bank requires a minimum down payment of 15% at the time of the loan. - The annual property tax is 2% 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

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