You have just signed a contract to purchase your dream house. The price is $360,000 and you have applied for a $300,000, 30-year, 5.5% loan. Annual property taxes are expected to be $4,000. Hazard insurance will cost $1,200 per year. Your car payment is $800, with 36 months left. Your monthly gross income is $10,000. Calculate:

A. The monthly payment of principal and interest (PI).

B. One-twelfth of annual property tax payments and hazard insurance payment.

C. Monthly PITI (principal, interest, taxes, and insurance).

D. The housing expense (front-end) ratio.

E. The debt-to-income (back-end) ratio.

Show the formulas you use.