Real Estate Math
A West Virginia homebuyer is told their debt-to-income ratio cannot exceed 43%. Their gross monthly income is $5,000. What is the maximum total monthly debt payment allowed?
A$1,500
B$2,150✓ Correct
C$2,500
D$1,800
Explanation
Maximum monthly debt = $5,000 x 0.43 = $2,150.
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