If your monthly before-tax income is $2,000, and your monthly take-home pay is $1,500, your maximum monthly consumer credit payments should not exceed:
A) $600.
B) $450.
C) $400.
D) $300.
E) $200.

Question

Quizplus · Accepted Answer

The general rule of thumb for maximum monthly consumer credit payments is that they should not exceed 20% of your monthly take-home pay. In this case, 20% of $1,500 (take-home pay) is $300.

If Your Monthly Before-Tax Income Is $2,000, and Your Monthly