Sally Is Considering Purchasing a Condo That Will Have Monthly

Multiple Choice

Sally is considering purchasing a condo that will have monthly payments of $800 per month. Property taxes along with heating costs will total $225 per month. Her monthly credit card bills total $150 per month and her car payments are $600 per month. If Sally's gross monthly income is $3,500 per month, determine her Gross Debt Service Ratio.

A) 26.29%
B) 27.29%
C) 28.29%
D) 29.29%
E) 30.29%