Experts advise that your debt payments to take home pay


Experts advise that your debt payments to take home pay ratio should not exceed 20%. A homeowner has the following monthly income and expenses:

Item Value

Gross salary $2,000

Taxes/social security $ 340

Visa card payments $ 35

Mastercard payments $ 30

Discover card payments $ 20

Auto loan payments $ 385

What is the homeowner's "debt payments to take home pay" ratio?

Request for Solution File

Ask an Expert for Answer!!
Financial Management: Experts advise that your debt payments to take home pay
Reference No:- TGS01187897

Expected delivery within 24 Hours