Answer: The correct answer is $1,273.80.
Explanation: If the maximum amount that Jordan can pay for principal, interest, taxes and insurance each month is 33% of their annual salary of $46,320, then they need to keep this amount under $15,285.60 per year. If this is the annual amount, then it needs to be divided by 12 in order to calculate the monthly maximum. $15,285.60 / 12 = $1,273.80.
