Real Estate Math
A Louisiana homebuyer's gross monthly income is $5,200. The lender's maximum housing expense ratio is 28%. What is the maximum monthly PITI payment allowed?
A$1,340
B$1,456✓ Correct
C$1,560
D$1,248
Explanation
Maximum PITI = $5,200 × 28% = $1,456. To solve this, multiply the relevant values: $5,200 at 28%..
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