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Trava [24]
3 years ago
14

Nicholas makes $2,000 per month.He spends $300 on credit card payments and $350 on an auto loan.what is his debt to income ratio

Mathematics
2 answers:
zhenek [66]3 years ago
5 0

Answer:

0.325 or 32.5%

Step-by-step explanation:

Income per month = $2,000

Total monthly debt consist of the credit cards payment and auto loan. Therefore, the total debts

= $300 + $350

= $650

The debt to income ratio is a fraction of the debt to the total income

= $650/$2000

= 0.325 or 32.5%

I am Lyosha [343]3 years ago
3 0

Answer:

  32.5%

Step-by-step explanation:

His debt payments total $300 +350 = $650.

As a fraction of his income, that is ...

  $650/$2000 = 325/1000 = 32.5/100 = 32.5%

Nicholas's debt to income ratio is 32.5%.

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