Respuesta :
Answer:
Her debt to income ratio is classified as favorable
Explanation:
The given information are;
Elysha's gross monthly income = $3,000
The amount she pays as debt each month = $500
Therefore, her debt to in to income ratio, DTI, is given as follows;
DTI = (Amount payed as debt)/(Gross income) = $500/$3,000 ≈ 0.167
We multiply by 100 to express the result as a percentage, to get;
0.167 × 100 = 16.7%
Given that her debt to income ration is less than 35%, her debt to income ratio is classified as favorable and she has a manageable debt.
Answer: Good—between 15 and 20 percent
Explanation: All you have to do is find what the different percents of 3,000 are and see which one is the closest.
