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You borrow $230,000 over 25 years at a rate of 6.5% to purchase a home. Property taxes are $2,300 annually. Property insurance is $580 annually.
You borrow $230,000 over 25 years at a rate of 6.5% to purchase a home. Property taxes are $2,300 annually. Property insurance is $580 annually. Maintainence costs are $270 per month. What is the total monthly housing payment. Use Exhibit 7-7. (Round your intermediate calculations and final answer to 2 decimal places.)
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