Tran Currently Makes $4,500 Per Month in Gross Income

question 178

Multiple Choice

Tran currently makes $4,500 per month in gross income.He has a student loan payment of $250 per month and a car loan of $450 per month.His credit card payments average $300 per month.What is the largest PITI he could qualify for with a reputable lender?

• A)$620
• B)$900
• C)$1,260
• D)$1,620

---

Definitions:

Carbon Atoms

Carbon atoms are the fundamental building blocks of organic molecules, characterized by their ability to form up to four covalent bonds with other atoms, including other carbon atoms.

Single Bonds

Chemical bonds involving the sharing of one pair of valence electrons between two atoms.

Fats

Organic compounds made of fatty acids and glycerol, serving as a major energy storage form in organisms.

Waxes

A diverse class of organic compounds that are malleable at room temperature, typically derived from plants and animals or synthesized industrially.