Sally spends $1,500 each month on her mortgage, mortgage insurance and property taxes. She has three credit cards with minimum m

Question

3 years ago

14

Sally spends $1,500 each month on her mortgage, mortgage insurance and property taxes. She has three credit cards with minimum m

onthly payments that total to $125.00 and a monthly car payment for $349.00. She currently brings in a gross monthly income of 3,750.00 from her job. Calculate Sally’s debt-to-income (DTI) ratio. a. 40% b. 43% c. 49% d. 53%

Mathematics

2 answers:

Ghella [55] · Answer 1 · 2022-03-21T14:39:58+03:00

Ghella [55]3 years ago

7 0

Answer: d. 53%

Step-by-step explanation:

Margaret [11] · Answer 2 · 2022-03-21T13:31:40+03:00

Margaret [11]3 years ago

4 0

$1500 + $125 +$349 =$1974
$1974/$3750=.5264 = 53%

d. 53%