Finance
A Maine couple's combined gross monthly income is $7,500. Their monthly mortgage payment is $1,800. Their front-end (housing) debt ratio is:
A18%
B24%✓ Correct
C28%
D32%
Explanation
Front-end ratio = Housing payment ÷ Gross monthly income = $1,800 ÷ $7,500 = 0.24 = 24%.
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