Real Estate Math
A Virginia buyer's monthly mortgage payment is $1,850. Annual property taxes are $3,600 and homeowner's insurance is $1,200/year. What is the total monthly PITI payment (excluding PMI)?
A$2,150
B$2,200
C$2,050
D$2,250✓ Correct
Explanation
Monthly taxes = $3,600 ÷ 12 = $300. Monthly insurance = $1,200 ÷ 12 = $100.
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