Erin borrows $125,000 for a home at 6% for 25years. annual insurance and taxes on the property are $675 and $954, respectively. find the total monthly payment
a. $1,619.50
b. $805
c. $135.75
d. $940.75

The formula of the present value of annuity ordinary is
Pv=pmt [(1-(1+r/k)^(-kn))÷(r/k)]
Pv present value 125000
PMT monthly payment?
R interest rate 0.06
K 12 because the payment is monthly
N time 25 years
So we need to solve for pmt
PMT=pv÷[(1-(1+r/k)^(-kn))÷(r/k)]
PMT=125,000÷((1−(1+0.06÷12)^(
−12×25))÷(0.06÷12))
=805.4 rounded to 805 this is the monthly payment of the loan
Since you ask for total monthly payment including insurance and tax you get
805+(675÷12)+(954÷12)
=940.75
I divide the amount of insurance and tax by 12 to get the monthly payment of insurance and tax

Hope it helps

So the first thing we do is to multiply the top equation by 3. the reason i want to do this is i notice there will be a 6y on both equations and can possibly add/subtract them. so we get 6y = -3x + 27. adding that and the second equation we get 6x = 27-15 which is 12. divide by 6 and we get 2. ∴ x = 2. substituting 2 into the first equation we get 2y = -2 + 9 which is 7. divide by 2 and we get 7/2. ∴ y = 7/2, x = 2.