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Narrative 14-1 For Problems in This Section, Use Table 14-1 from Your

Question 27

Multiple Choice

Narrative 14-1
For problems in this section, use Table 14-1 from your text to find the monthly mortgage payments, when necessary.
-Refer to Narrative in your text 14-1. You purchase a home for $69,750 at 6.75% for 30 years. The property taxes are $2,450 per year, and the hazard insurance premium is $256 semiannually. Find the monthly PITI payment.


A) $699.51
B) $594.73
C) $1,059.40
D) $246.83

Correct Answer:

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