Real Estate Math
A Louisiana buyer qualifies for a maximum monthly PITI of $2,100. Monthly taxes are $280 and monthly insurance is $90. What is the maximum monthly P&I payment the buyer can afford?
A$1,640
B$1,730✓ Correct
C$1,820
D$1,900
Explanation
Maximum P&I = Maximum PITI − Taxes − Insurance = $2,100 − $280 − $90 = $1,730. Using the values given ($2,100, $280), apply the appropriate formula..
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