Sebastian takes home $3200 per month from his job as an office manager. If his only debt obligations are a car loan payment of $

Question

3 years ago

11

580 and a credit card payment of $140 every month, is he in danger of credit overload?

2 answers:

Brrunno [24] · Answer 1 · 2022-05-07T06:23:05+03:00

7 0

Yes, because the sum of $580 and $140 is greater than $640 - Apex

docker41 [41] · Answer 2 · 2022-05-07T07:25:26+03:00

Answer: No, he is not in danger of credit overload.

Step-by-step explanation:

Since we have given that

Amount Sebastian takes home from his job as an office manager = $3200

Amount of debt on a car loan = $580

Amount of credit card payment = $140

So, Amount that deducted from his salary to pay off debt is given by

$\$580+\$140=\$720$

And Amount is left to Sebastian is given by

$\$3200-\$720\\\\=\$2480$

Hence, No, he is not in danger of credit overload.