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Rzqust [24]
3 years ago
8

Using the 28/36 ratio, determine the maximum allowable recurring debt for someone with a monthly income of $3,200. a. $256 b. $5

12 c. $640 d. $896
Mathematics
2 answers:
blagie [28]3 years ago
7 0

Answer:

a. $256

Step-by-step explanation:

The computation of the maximum allowable recurring debt is shown below:

Given ratio = 28:36

And the monthly income is $3,200

So the maximum expense on housing = 28% of $3,200 = $896

And, the maximum expense on total debt = 36% of $3,200 = $1,152

Now the maximum alloweable recurring debt is

= $1,152 - $896

= $256

liubo4ka [24]3 years ago
5 0

Answer:

the answer is A

Step-by-step explanation:

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