Real Estate Math
An Alaska condo has an HOA fee of $375/month. Annual property taxes are $3,800 and homeowner's insurance is $1,200/year. What is the total annual PITI plus HOA (excluding P&I mortgage payments)?
A$5,000
B$9,500✓ Correct
C$10,600
D$13,600
Explanation
HOA = $375 × 12 = $4,500. Taxes + Insurance = $3,800 + $1,200 = $5,000.
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