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Suppose you take out a 30-year mortgage for a house that costs $382,764. Assume the following: The annual interest rate on the mortgage is 4.7%.

Suppose you take out a 30-year mortgage for a house that costs $382,764. Assume the following: The annual interest rate on the mortgage is 4.7%. The bank requires a minimum down payment of 13% at the time of the loan. The annual property tax is 2% of the cost of the house. The annual homeowner's insurance is 0.8% 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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