Real Estate Math
A buyer's monthly principal and interest payment is $1,850. Annual property taxes are $3,600 and homeowner's insurance is $1,200 per year. What is the buyer's total PITI monthly payment?
A$1,850
B$2,250✓ Correct
C$2,450
D$2,650
Explanation
Monthly taxes = $3,600 ÷ 12 = $300. Monthly insurance = $1,200 ÷ 12 = $100.
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