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maksim [4K]
3 years ago
13

Trudy’s monthly expenses are outlined in the chart below. Trudy’s job pays her $36,000 annually. Determine Trudy’s DTI (debt-to-

income) ratio.
a. 28%
b. 35%
c. 37%
d. 44%
Business
2 answers:
Crank3 years ago
8 0

Answer:

The answer Is D for 2020

Explanation:

lubasha [3.4K]3 years ago
4 0

Answer:

d. 44%

Explanation:

The formula to compute the debt to income ratio is shown below:

Debt to income ratio = (Debt) ÷ (Income) × 100

where,

Debt = (Rent expense + car payment + student loan + credit card payment) × total number of months in a year

= ($695 + $265 + $200  $160) × 12 months

= $1,320 × 12 months

= $15,840

And, the income is $36,000

So, the ratio would be

= ($15,840 ÷ $36,000) × 100

= 44%

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