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Suppose you take out a 30-year mortgage for a house that costs $388,526. 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 $388,526. Assume the following: - The annual interest rate on the mortgage is 5%. - The bank requires a minimum down payment of 17% 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 1.5% 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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