Real Estate Math
If a South Carolina buyer's gross monthly income is $5,800 and the lender uses a 28% front-end ratio, what is the maximum monthly PITI?
A$1,421
B$1,524
C$1,624✓ Correct
D$1,740
Explanation
Maximum PITI = $5,800 × 28% = $5,800 × 0.28 = $1,624. To solve this, multiply the relevant values: $5,800 at 28%.. The correct answer is $1,624.. This is a common calculation on the South Carolina real estate exam.
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