Answer: First option is correct.
Explanation:
Since we have given that
Income of Natalie makes per month = $2000
Amount She spends on credit card payments = $100
Amount she spend on an auto loan = $250
Total debt is given by
So, Debt-to-Income ratio is given by
Hence, First option is correct.
The answer would be 17.5%
It's a quadratic equation in disguise. If you let , then , and we can rewrite the equation as
Solve for however you like; we get and .
But we want to solve for , so we have