Ben and Carla Manchester plan to buy a condominium. They will obtain a $154,000, 25-year mortgage at 6.5 percent. Their annual property taxes are expected to be $2,796. Property insurance is $1,416 a year, and the condo association fee is $125 a month. Based on these items, determine the total monthly housing payment for the Manchesters. Use Exhibit 9-9. (Round time value factor to 2 decimal places and final answer to the nearest whole number.)
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