Real Estate Math
A Kansas borrower earns $6,500/month gross income. The maximum housing expense ratio (PITI) at 28% would allow monthly payment of:
A$1,500
B$1,820✓ Correct
C$2,000
D$2,100
Explanation
$6,500 × 0.28 = $1,820 maximum housing expense. To solve this, multiply the relevant values: $6,500 at 28%.. The correct answer is $1,820.. This is a common calculation on the Kansas real estate exam.
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