Robert Smith has monthly net income of $1,050.He has a house payment of $450 per month,a car loan with payments of $250 per month,a Visa card with payments of $50 per month,and a credit card with a local department store with payments of $100 per month.What is Robert's debt payments-to-income ratio?
A)2.63
B)1.24
C)0.81
D)0.38
E)0.50

Question

Quizplus · Accepted Answer

($250 + $50 +$100) / $1,050 = 0.38

Robert Smith Has Monthly Net Income of $1,050