Ask Question
4 September, 20:30

Natalie makes $2,000 per month. She spends $100 on credit card payments and $250 on an auto loan. What is her debt-to-income ratio?

17.5 percent

22 percent

2.7 percent

32.5 percent

+1
Answers (1)
  1. 4 September, 22:31
    0
    Monthly income = 2000 dollars

    Debt to pay = 250 + 100 = 350 dollars

    Let's find the ratio of debt to income.

    => 350 / 2000 = 0.175

    => 0.175 * 100 = 17.5 percent.

    Thus 17.5% of his salary goes to his debts for credit card and auto loan.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Natalie makes $2,000 per month. She spends $100 on credit card payments and $250 on an auto loan. What is her debt-to-income ratio? 17.5 ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers