Question 12 • 26-27 Ignite Technical Math-Financial Math - MA2007
Ralph’s monthly debt payments are 29% of $3,700, or $1,073. To keep those same payments at no more than 36% of gross income, divide $1,073 by 0.36: $1,073 ÷ 0.36 ≈ $2,980.56. The minimum income is $2,980.56, choice C.
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