Using the 28/36 ratio, determine the maximum allowable recurring debt for someone with an annual income of $86,250.

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asked Apr 26, 2017 77.5k views

2 Answers

CleanBold · Answer 1 · 2017-04-30T01:08:44+0000

Given:
28/36 ratio
annual income: 86,250

28+36 = 64

28/64 * 86,250 = 0.4375 * 86,250 = 37,734.375
36/64 * 86,250 = 0.5625 * 86,250 = 48,515.625

28/36 ⇒ 37,734.375/48,515.625

Using the 28/36 ratio, determine the maximum allowable recurring debt for someone with an annual income of $86,250.

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