The monthly mortgage payment on a home is $783.40, and the homeowner pays an annual property tax of $648. Find the total monthly payment for the mortgage and property tax.

Question

Quizplus · Accepted Answer

To find the total monthly payment, we simply add the monthly mortgage payment to the monthly property tax payment:

$783.40 + ($648 / 12)

= $783.40 + $54

= $837.40

Therefore, the total monthly payment for the mortgage and property tax is $837.40, which is answer choice E.

The Monthly Mortgage Payment on a Home Is $783