ASK YOUR TEACHER

Carlos earns a gross income of $$5,580$ per month and applies for a mortgage with a monthly PITI of $$1,450\mathrm{.}80.$ Carlos has other financial obligations totaling $$719,82$ per month. If the lending ratio guidelines are as given in the table below.

Lending Ratio Guidelines

$\backslash$table$[[$Mortgage Type,Housing Expense Ratio,Total Obligations Ratio$],[$FHA$,29\%,41\%$