Real Estate Math
A Hawaii buyer earns $95,000 per year. If the lender's back-end DTI limit is 45%, what is the maximum allowable monthly total debt payment?
AA. $3,562.50✓ Correct
BB. $3,750
CC. $3,562
DD. $4,275
Explanation
Monthly income = $95,000 / 12 = $7,916.67.
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