FinancingInterest_and_payment_calculationsMEDIUM
Trevor and Alina's monthly principal-and-interest payment is $1,356. Their monthly property taxes are $290 and homeowners insurance is $94. What is their total monthly housing payment before any HOA dues?
Correct Answer
A) $1,740
Step 1: Principal and interest = $1,356. Step 2: Add taxes of $290 and insurance of $94. Step 3: Total monthly housing payment = $1,356 + $290 + $94 = $1,740. So their total payment before HOA dues is $1,740.
Answer Options
A
$1,740B
$1,646C
$1,450D
$1,934Why This Is the Correct Answer
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Related Topics & Key Terms
Key Terms:
total_monthly_paymentpitiescrowhousing_costs
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