Beau has an annual adjusted gross income of $89,750. He is applying for a mortgage loan that would have a monthly payment of $1,
025. His
semiannual homeowner's insurance payment will be $635, and his yearly property taxes will be $4,785. Beau also has a monthly credit card
payment of $2.000 and a monthly car payment of $250. Using the formula, determine Beau's front-end ratio to the nearest percentage.
monthly housing expenses
front-end ratio = monthly gross income
OA. 19%
OB. 20%
OC 21%
OD. 249
semiannual homeowner's insurance payment will be $635, and his yearly property taxes will be $4,785. Beau also has a monthly credit card
payment of $2.000 and a monthly car payment of $250. Using the formula, determine Beau's front-end ratio to the nearest percentage.
monthly housing expenses
front-end ratio = monthly gross income
OA. 19%
OB. 20%
OC 21%
OD. 249
2 answers:
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