Calculate the Monthly Principal and Interest (PI), Using Table 14-1

question 111

Short Answer

Calculate the monthly principal and interest (PI), using Table 14-1 from your text, and the monthly PITI for the following mortgage, rounding to the nearest cent. $$\begin{array} { l l l l l l l } \text { Amount } & \text { Interest } & \text { Term of } & \text { Monthly } & \text { Annual } & \text { Annual } & \text { Monthly } \\\text { Financed } & \underline { \text { Rate } } & \underline { \text { Loan } } & \underline { \text { PI } } & \underline { \text { Property Tax } } & \underline { \text { Insurance } } & \underline { \text { PITI } } \\\$ 122,500 & 10 \% & 30 \text { years } & & \$ 2,218 & \$ 1,450 &\end{array}$$

---

Definitions:

Dispositional Determinants

Intrinsic personality traits that influence an individual's attitudes, behaviors, and responses to their environment.

Situational Determinants

Factors present in the environment or specific situations that influence individual behavior, decisions, or outcomes.

AIDS Epidemic

A global public health crisis characterized by the widespread outbreak of Acquired Immune Deficiency Syndrome (AIDS), primarily caused by the human immunodeficiency virus (HIV).

Applied Social Psychologists

work on using insights from social psychology to address and solve real-world problems, improving societal functions and individual well-being.