Ted and Carol want to buy a house that is listed for $105,000, the seller accepts the offer they wrote for $5,000 less than the list price. They have a 20% down payment and need to get an 80% LTV mortgage. Their lender offers them 30yr. Mortgage at 5.5% interest. The taxes are $1,494 per yr and the insurance is $480 per yr. How much is their monthly PITI payment?

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