Conrad Jennings�s monthly take home pay is $3500. He has a $600 mortgage payment, $300 car payment, $500 student loan payment, a
nd credit card payments in the amount of $1000. Calculate his debt-to-income ratio. A. 29% B. 31% C. 37% D. 69%
1 answer:
All his debt adds up to $1100.
The ratio is 1100/3500
1100/3500 = x/100 ~ cross multiply
The answer is: B. 31%
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