Question: Saved Help Save & Exit Submit Ben and Carla Covington plan to buy a condominium. They will obtain a $222,000, 30-year mortgage at 5.5 percent.

Saved Help Save & Exit Submit Ben and Carla Covington plan to buy a condominium. They will obtain a $222,000, 30-year mortgage at 5.5 percent. Their annual property taxes are expected to be $1,900. Property insurance is $500 a year, and the condo association fee is $230 a month. Based on these items, determine the total monthly housing payment for the Covingtons. Use Exhibit 7-7. (Round your intermediate calculations and final answer to 2 decimal places.) Total monthl, housing payment

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