Real Estate Math
A buyer has a gross monthly income of $7,200. The lender's maximum front-end ratio is 28%. What is the maximum monthly PITI payment?
A$1,800
B$2,016✓ Correct
C$2,160
D$2,400
Explanation
Maximum PITI = $7,200 × 28% = $2,016. To solve this, multiply the relevant values: $7,200 at 28%..
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