Question

Trudy’s monthly expenses are outlined in the chart below. Trudy’s job pays her $36,000 annually. Determine Trudy’s DTI (debt-to-income) ratio.

Answer 1

Answer:

Step-by-step explanation:

The answer on e2020 is D.44% hopes this helps.

Answer 2

Trudy's DTI (debt-to-income) ratio is; 11:25

Ratios and Proportions

The chart is as follows;

• Income = $36,000 (annually)

• Rent = $695 (monthly)

• Car Payment = $265 (monthly)

• Student Loan = $200 (monthly)

• Credit Cards = $160 (monthly)

Hence, The total debt owed by Trudy can be evaluated as follows since there are 12 months in a year;

• Total debt = 12($695) + 12($265) + 12($200) + 12($160)

• Total debt = $8340 + $3180 + $2400 + $1920

• Total debt = $15,840

Since, Trudy's income is $36,000; Trudy's debt-to-income ratio is;

• Ratio = $15840/$36000

Ratio = 0.44

Ratio is 11:25

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