92. (p. 228)

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