Brad and Sam take a 30-year mortgage for a house that costs$103570. Assume the following: The annual interest rate on themortgage is 4.3%. The bank requires a minimum down payment of 20%of the cost of the house. The annual property tax is 1.6% of thecost of the house. The annual homeowner's insurance is $674. Thereis no PMI. If they make the minimum down payment, what will theirmonthly PITI be? Round your answer to the nearest dollar.
