Your gross income (pay for before deductions for taxes) is $10,000 a month, and income taxes are estimated at a rate of 20%. In

Question

2 years ago

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addition, your debt is $2,000 per month. What is your monthly personal debt ratio

1 answer:

slavikrds [6] · Answer 1 · 2023-09-20T10:06:14+03:00

Based on your debt per month and your gross income, the monthly personal debt ratio is 20%.

<h3>How can you find the monthly personal debt ratio?</h3>

This can be found as:

= Personal debt / Gross income

Solving gives:

= 2,000 / 10,000

= 20%

In conclusion, the personal debt ratio is 20%.

Find out more on personal debt ratio at brainly.com/question/24814852.

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