Calculate the monthly principal and interest (PI), using Table 14-1 from your text, and the monthly PITI for the following mortgage, rounding to the nearest cent. $$\begin{array} { l l l l l l l }
\text { Amount } & \text { Interest } & \text { Term of } & \text { Monthly } & \text { Annual } & \text { Annual } & \text { Monthly } \
\text { Financed } & \underline { \text { Rate } } & \underline { \text { Loan } } & \underline { \text { PI } } & \underline { \text { Froperty Tax } } & \underline { \text { Insurance } } & \underline { \text { PITI } }\
\$55,000&8\%&30\text {years}&&\$1,005&\$425&
\end{array}$$

Question

Calculate the monthly principal and interest (PI), using Table 14-1 from your text, and the monthly PITI for the following mortgage, rounding to the nearest cent. $$\begin{array} { l l l l l l l } 
\text { Amount } & \text { Interest } & \text { Term of } & \text { Monthly } & \text { Annual } & \text { Annual } & \text { Monthly } \
\text { Financed } & \underline { \text { Rate } } & \underline { \text { Loan } } & \underline { \text { PI } } & \underline { \text { Froperty Tax } } & \underline { \text { Insurance } } & \underline { \text { PITI } }\
\$55,000&8\%&30\text {years}&&\$1,005&\$425&
\end{array}$$

Quizplus · Accepted Answer

The Answer of Calculate the monthly principal and interest (PI), using Table 14-1 from your text, and the monthly PITI for the following mortgage, rounding to the nearest cent. $$\begin{array} { l l l l l l l } 
\text { Amount } & \text { Interest } & \text { Term of } & \text { Monthly } & \text { Annual } & \text { Annual } & \text { Monthly } \
\text { Financed } & \underline { \text { Rate } } & \underline { \text { Loan } } & \underline { \text { PI } } & \underline { \text { Froperty Tax } } & \underline { \text { Insurance } } & \underline { \text { PITI } }\
\$55,000&8\%&30\text {years}&&\$1,005&\$425&
\end{array}$$

Calculate the Monthly Principal and Interest (PI), Using Table 14-1