Elizabeth Has a Monthly Net Income of $1,600

question 82

Essay

Elizabeth has a monthly net income of $1,600.She has a house payment of $600 per month,a car loan with payments of $400 per month,a Visa card with payments of $75 per month,and a credit card with a local department store with payments of $125 per month.What is Elizabeth's debt payment-to-income ratio? Is she within range of what experts suggest you spend on consumer credit payments?

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