Question

Question 4 of 25

Craig's annual take-home pay is $75,000. What is the maximum amount that
he can spend per month paying off credit cards and loans and not be in
danger of credit overload?
OA. $5000.00
B. $1562.50
OC. $6250.00
OD. $1250.00
SUBMIT

Answer 1

Craig can spend a maximum of $6,250.00 per month on credit card payments and loans without being in danger of credit overload.

Step-by-step explanation:

To determine the maximum amount that Craig can spend per month without credit overload, we need to consider his annual take-home pay. Since his annual take-home pay is $75,000, we can divide this by 12 to find his monthly income. $75,000 ÷ 12 = $6,250.00

Therefore, Craig can spend a maximum of $6,250.00 per month on credit card payments and loans without being in danger of credit overload.

Learn more about maximum spending limit for credit cards and loans