Naomi has a 15 year mortgage on her house. Her monthly principal and interest payment is...

Naomi has a 15 year mortgage on her house. Her monthly principal and interest payment is $1,373. Her annual insurance is $1,388 and her annual property taxes are $1,996. Find her adjusted monthly payment of principal, interest, taxes, and insurance (PITI). Please show step by step. Thank you

Expert Solution

PITI = Principal + Interest + Taxes + Insurance

PITI = 1,373 + 1,388/12 + 1,996/12

PITI = $1,655

So,

PITI = $1,655

jeff jeffy answered 3 years ago

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