Answer:
usha and parker have combined monthly net income of $4,500 they both chip in to pay there $675 rent each moth they also have one outstandint student loaan balcne of 6,280 and recenly added a balcne of 1,700 to their shared debt for the laptop they bought last month how much more debt can usha and praker take on still be within recommed limit answer is 2826 show work
Step-by-step explanation:
Usha and Parker should not take another debt to their current situation because their debt to income ratio (DIR) has exceeded the Basic Qualified Mortgage DIR for the common benchmark. The qualified mortgage debt to income ratio is 43% and Usha and Parker debt to income ratio is 47.9%. Debt to income ratio is calculated by dividing total personal debt with net income.