Question

Question 17 (5 points)

Answer 1

Answer:

Malcolm’s debt-to-income ratio is 0.8125

Step-by-step explanation:

we know that

To find out Malcolm’s debt-to-income ratio, divide monthly expenses by the monthly salary

Let

x ------> Malcolm’s monthly expenses

y -----> Malcolm’s monthly salary

In this problem we have

$x=\ 975\\ y=\ 1,200$

The ratio is equal to

$975/1,200=0.8125$