Real Estate Math
A South Dakota home buyer's gross monthly income is $6,000. Using a 28% front-end ratio, what is the maximum monthly PITI payment the lender will allow?
A$1,200
B$1,400
C$1,680✓ Correct
D$2,000
Explanation
Maximum PITI = $6,000 × 0.28 = $1,680 per month.
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