Real Estate Math
An Alaska homeowner's insurance is $1,800/year, property taxes are $4,200/year, and the mortgage payment (P&I) is $1,650/month. What is the monthly PITI payment?
A$1,800
B$2,150✓ Correct
C$2,350
D$1,828
Explanation
Monthly taxes = $4,200 ÷ 12 = $350. Monthly insurance = $1,800 ÷ 12 = $150.
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