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Suppose you take out a 30-year mortgage for a house that costs $454091. Assume the following: The annual interest rate on the mortgage is 3.2%.

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Suppose you take out a 30-year mortgage for a house that costs $454091. Assume the following: The annual interest rate on the mortgage is 3.2%. . The bank requires a minimum down payment of 20% at the time of the loan The annual property tax is 2.2% 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? Round your answer to the nearest dollar

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