INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. Select
-Nancy's take-home income is $3,000 per month,and she currently has $700 monthly consumer debt.According to the general rules of thumb,Nancy [is | is not] in a position to take on additional consumer debt.
A)for the first item
B)for the second item
C)if neither item will correctly complete the statement.

Question

Quizplus · Accepted Answer

According to the general rules of thumb, one's consumer debt should not exceed 30% of their take-home income. In Nancy's case, her consumer debt is currently at 23% ($700/$3,000). Therefore, she is still in a position to take on additional consumer debt.

INSTRUCTIONS: Choose the Word or Phrase in [ ] Which