Question

Seth has a monthly income of $2,500. He has a $400 car payment and owes $225 on electronic equipment. What is the percentage of Seth’s income he is paying out in debt payments

Answer 1

=25%

Step-by-step explanation:

Seth has an income of $2500

His expenditure on debts is the car: $ 400 + electronic $ 225

Total expenditure is $625

As a percentage of income $625/2500 X 100

=0.25 x 100

=25%