Question

Question 17 (5 points)

Find Malcolm's debt-to-income ratio if his monthly expenses are $975 and his
monthly salary is $1200.

Answer 1

Malcolm’s debt-to-income ratio is 0.8125

Explanation:

we know that

To find out Malcolm’s debt-to-income ratio, divide monthly expenses by the monthly salary

Let

x ------> Malcolm’s monthly expenses

y -----> Malcolm’s monthly salary

In this problem we have

`x=\$975\\ y=\$1,200`

The ratio is equal to

`975/1,200=0.8125`