no idea what to do here. was in hospital and missed class for a while.any help is very welcome and apprecited.
A couple finances a house valued at $150,000. The monthly principal and interest payment has been determined to be $641.85. Taxes on the property are estimated to be $578 per year. Insurance on the property is projected to cost $720 per year.
The monthly PITI payment is: $ 1
See:
http://www.jiskha.com/display.cgi?id=1304390322
To calculate the monthly PITI payment, you need to combine the principal and interest payment with the taxes and insurance costs.
Step 1: Calculate the monthly tax payment.
Since the taxes are estimated to be $578 per year, divide this by 12 to get the monthly tax payment:
Monthly tax payment = $578 / 12 = $48.17
Step 2: Calculate the monthly insurance payment.
Since the insurance is projected to cost $720 per year, divide this by 12 to get the monthly insurance payment:
Monthly insurance payment = $720 / 12 = $60
Step 3: Add the principal and interest payment, the monthly tax payment, and the monthly insurance payment together:
Monthly PITI payment = Principal and interest payment + Monthly tax payment + Monthly insurance payment
Monthly PITI payment = $641.85 + $48.17 + $60
Monthly PITI payment = $?
Calculating the exact total:
Monthly PITI payment = $641.85 + $48.17 + $60
Monthly PITI payment = $?
To get the final monthly PITI payment, you need to add up the numbers:
Monthly PITI payment = $641.85 + $48.17 + $60
Monthly PITI payment = $?