tim bought a house. he took out a $132,000 loan for 30 years at an interest rate of 5%. each month, he will…

tim bought a house. he took out a $132,000 loan for 30 years at an interest rate of 5%. each month, he will make a payment to repay this money he borrowed. in chapter 4, we will talk about how you can calculate the amount of that monthly payment yourself. for now though, lets just assume that you already know your monthly payment is $708.60 per month. enter 708.60 below. record this number as mortgage\n\n708.60\n\ninteger, decimal, or e - notation allowed\n\nquestion 5\n\n0.5 points\n\nproperty taxes are $3300 each year. the bank will spread this amount over 12 months and include it into your monthly mortgage payment. this is called \escrow.\ how much is tims escrow payment each month for the property taxes? record this number as escrow\n\n275\n\ninteger, decimal, or e - notation allowed

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