Question: 3. Use the installment loan formula from Module 2 to find your monthly payment. (Assume a 4% interest rate for 30 years.) [Answer] 4. If

3. Use the installment loan formula from Module 2 to find your monthly payment. (Assume a 4% interest rate for 30 years.) [Answer] 4. If homeowner's insurance is $1,400 per year and property taxes are $750 annually, how much would you pay each month for these two items? [Answer] 5. If your insurance and taxes are added to your initial house payment from #3, what is your new total monthly payment? [Answer] 6. What is it called when your taxes and insurance are included in your monthly house payment? [Answer]

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