Jared has a monthly gross income of $2,250 and a monthly debt load of $200. How can his debt-to-income ratio be classified?

Excellent—10 percent or less
Ideal—between 10 and 15 percent
Good—between 15 and 20 percent
Concerning—greater than 28 percent

The debt-to-income ratio is the total of monthly debt payments divided by the monthly gross income. The result is expressed as a percentage by multiplying by 100. A number higher than 36% may make lenders reject loan requests.

Jared's debt-to-income ratio is $200/ $2,250

=0.08888 x 100

=8.89%

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jloquinn4 jloquinn4 · Answer 2 · 2022-03-12T03:33:31+01:00

jloquinn4 jloquinn4

12-03-2022

Answer:

Excellent—10 percent or less

Explanation:

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Jared has a monthly gross income of $2,250 and a monthly debt load of $200. How can his debt-to-income ratio be classified? Excellent—10 percent or less Ideal—between 10 and 15 percent Good—between 15 and 20 percent Concerning—greater than 28 percent

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Jared has a monthly gross income of $2,250 and a monthly debt load of $200. How can his debt-to-income ratio be classified?

Excellent—10 percent or less
Ideal—between 10 and 15 percent
Good—between 15 and 20 percent
Concerning—greater than 28 percent