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29 September, 02:30

Richard's annual take-home pay is 28500. What is the maximum amount that he can spend per month paying off credit cards and loans and not be in danger of credit overload?

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  1. 29 September, 06:04
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    To answer the problem above, annual means yearly, to know the maximum amount that he can spend per month we simply divide the annual take-home pay with 12 months exactly. So 28500 / 12 = 2375. Richard can spend not more than 2375 to not be in danger of credit overload.
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