Question $30$

$3\mathrm{.}3$ pts

$$550,000$ house at $3\%$ interest, $30$ year loan, assume $2\mathrm{.}20\%$ property tax, average home insurance at $$1000$ per year. Assume the LTV is $80\%.$ You have $$850$ per month student loan, no other long$-$term loan, your income is $$90,000$ per year.

What is the back$-$end ratio?

$45\mathrm{.}6\%$

$50\mathrm{.}6\%$

$48\mathrm{.}5\%$

$52\mathrm{.}6\%$