Real Estate Math
A Louisiana mortgage has a monthly P&I payment of $1,450 and a monthly tax and insurance escrow of $320. What is the total monthly PITI payment?
A$1,450
B$1,770✓ Correct
C$1,630
D$1,950
Explanation
PITI = Principal + Interest + Taxes + Insurance = $1,450 + $320 = $1,770. Using the values given ($1,450, $320), apply the appropriate formula.. The correct answer is $1,770.. This is a common calculation on the Louisiana real estate exam.
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