Real Estate Math
A Kansas buyer's total monthly PITI payment is $1,650. Monthly gross income is $7,000. What is the housing expense ratio?
A21.4%
B23.6%✓ Correct
C24.5%
D25.0%
Explanation
$1,650 ÷ $7,000 = 0.2357 ≈ 23.6%. Using the values given ($1,650, $7,000), apply the appropriate formula.. The correct answer is 23.6%.. This is a common calculation on the Kansas real estate exam.
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