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Trinity takes home $5200 per month from her job as a pharmacist. if her only debt obligations are a car loan payment of $750 and a mortgage payment of $980 every month, is she i…

Trinity takes home $5200 per month from her job as a pharmacist. if her only debt obligations are a car loan payment of $750 and a mortgage payment of $980 every month, is she i…
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Trinity takes home $5200 per month from her job as a pharmacist. if her only debt obligations are a car loan payment of $750 and a mortgage payment of $980 every month, is she in danger of credit overload?

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User Cclogg
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2 Answers

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no because 750 is less than 1040


answered
User Zappy
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7.2k points
6 votes
She is not in danger of credit overload based on her Debt to Income Ratio. The average good Debt to Income ratio is 43% and Linda's Debt to Income ratio has not exceeded the average Debt to Income Ratio. The debt to income ratio can be calculated by dividing the total debt with the total income of an individual ((980+750)/5200*100% = 33.2%).
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User Ian Kershaw
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8.4k points
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