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Conrad Jennings�s monthly take home pay is $3500. He has a $600 mortgage payment, $300 car payment, $500 student loan payment, and credit card payments in the amount of $1000. C…

Conrad Jennings�s monthly take home pay is $3500. He has a $600 mortgage payment, $300 car payment, $500 student loan payment, and credit card payments in the amount of $1000. C…
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Conrad Jennings�s monthly take home pay is $3500. He has a $600 mortgage payment, $300 car payment, $500 student loan payment, and credit card payments in the amount of $1000. Calculate his debt-to-income ratio. A. 29% B. 31% C. 37% D. 69%

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User Mostkaj
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1 Answer

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All his debt adds up to $1100.

The ratio is 1100/3500

1100/3500 = x/100 ~ cross multiply

The answer is: B. 31%
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User Qosmo
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