Respuesta :
Answer:
25%
Explanation:
Given:
Seth has a monthly income of $2,500
He has a $400 car payment
He owes $225 on electronic equipment.
Question asked:
What is the percentage of Seth's income he is paying out in debt payments?
Solution:
He has a car payment = $400
He owes on electronic equipment = $225
These two items are treated as debt for Seth as these items are used first then pay for it.
Total debt = $400 + $225
Total debt = $625
Now, we will find percentage of Seth's income he is paying out in debt payments,
[tex]Percentage =\frac{Total \ monthly \ debt}{Total \ monthly\ income}[/tex]
[tex]=\frac{625}{2500} \times100\\\\ =\frac{62500}{2500} \\\\ =25[/tex]
Therefore, 25% of Seth's income he is paying out in debt payments.
