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

Question

Mathematics

Jimmy Pineda

14 May, 04:12

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

+4

Answers (1)

Know the Answer?

Zimmerman · Answer 1

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.

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 percent22 percent2.7 percent32.5 percent

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