Timothy Carter Has Net Monthly Income of $3,800

question 11

Multiple Choice

Timothy Carter has net monthly income of $3,800. He has a monthly auto loan payment of $350, a student loan payment of $150, a mortgage payment of $1,200, and a credit card minimum payment of $45. What is his debt-payments-to-income ratio?

• A) 13.2%
• B) 14.3%
• C) 36.7%
• D) 42.0%
• E) 45.9%

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Definitions:

Palm Oil

A type of vegetable oil derived from the fruit of the oil palm tree, often used in food products, cosmetics, and biofuels.

Coconut Oil

An edible oil extracted from the kernel or meat of mature coconuts, touted for its health benefits and used in cooking, skin care, and hair care.

Nutritional Status

The condition of an individual's health as influenced by the intake and utilization of nutrients.

Prealbumin

A protein found in the blood that is used as a marker for nutritional status and to evaluate the effectiveness of nutrition interventions.