Answer:
3
Step-by-step explanation:
13-4=9
9/3=3
⚠WARNING DO NOT JOIN THE ZOOM OF 825 338 1513⚠ OR DO NOT JOIN ANY ZOOMS FROM ANYONE EXCEPT REAL LIFE FRIENDS OR FRIENDS FAMILY OR TEACHERS! HIS ZOOM NAME IS Mysterious Men HE ASKS GIRLS TO DO INAPPROPRIATE THINGS PLS COPY AND PASTE THIS TO OTHER COMMENT SECTIONS! PLS PASS THIS AROUND!
Answer:
A bad debt ratio of more than 10% is considered high and often is a sign that you are in danger of credit overload. So, I'd $420 is the maximum amount he can spend on credit card payments and loan each month.
Step-by-step explanation:
Let's clear this with an example:
Rafael makes $4,200 a month and let's say he spends $550 on credit card payments and $450 on an loans.
Then, the ratio calculation would be $1000 / $4,200 = 0.24
Multiply that by 100 for a debt-income-ratio of 24%.
In this example, Rafael spends almost a quarter of his income on debt which is considered bad debt in economics.
