mseptabiap5x66p mseptabiap5x66p
  • 21-03-2018
  • Geography
contestada

Steve has a monthly income of $4,000 he also has a mortgage of $1,500 and a car payment of $345 what is his debt to income ratio

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itzelsantana00
itzelsantana00 itzelsantana00
  • 21-03-2018
to calculate your debt to income ratio you must divide your total debt by your income to get your DTI

1500 + 345= 1845 / 4000  or 46%
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yanlang1234
yanlang1234 yanlang1234
  • 21-03-2018
well put it into a ratio 1845:4000 and simplify it

divided by 5 (because of the Greatest Common Factor) the ratios would become 369:800

so therefore

the debt to income ratio would be 369:800

or another way to write it is ↓
[tex] \frac{369}{800} [/tex]
hope this helps and I'm sorry if I made a mistake
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