Jordan earns an annual salary of $45,000. If a lender uses 33% of monthly gross income as a guideline for the maximum PITI (principal, interest, taxes, and insurance) , what is the maximum mortgage that Jordan can apply for?
A) $1,237.50
B) $1,485.00
C) $2,475.00
D) $3,750.00
E) $7,500.00
Correct Answer:
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