Real Estate Math
A lender requires a debt-to-income ratio (DTI) of no more than 43%. A borrower earns $7,000/month gross and has $500/month in other debt. What is the maximum new housing payment allowed?
A$2,010
B$2,510✓ Correct
C$3,010
D$3,500
Explanation
Maximum total debt = $7,000 × 0.43 = $3,010.
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