Real Estate Math
A Hawaii buyer's monthly PITI payment is $4,200 and their gross monthly income is $14,000. What is their housing expense ratio?
AA. 28%
BB. 30%✓ Correct
CC. 33%
DD. 35%
Explanation
$4,200 / $14,000 = 0.30 = 30%. Using the values given ($4,200, $14,000), apply the appropriate formula.. The correct answer is B. 30%.. This is a common calculation on the Hawaii real estate exam.
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