Question

Kalani has these monthly liabilities: rent $879, car payment $315, credit card payment $102. She has an annual

income of $96,448. What is her debt-to-Income ratio, expressed as a percent?

Answer 1

1.34%

Explanation:

Given data

Rent =$879

Car payment =$315

Credit card payment= $102

Annual Income= $96,448

In all the debt is

=879+315+102

=$1296

Hence the debt to income ratio is

=1296/96,448

=0.0134

As percent

=0.0134*100

=1.34%