113
QuizMultiple Choice

Topic Test

Question 113 • ****Spring 2026 Financial Math - MA2007 MQS21QXV

Which of the following ratios is used to determine ones debt-to-income ratio?

Answer
A
20/28
B
20/36
C
28/30
D
28/36

Explanation

The 28/36 rule is commonly used to assess housing affordability and debt-to-income. It means housing costs should generally be no more than 28% of gross monthly income, while total monthly debt payments should generally be no more than 36%. So the correct choice is 28/36.

AI-written and checked against the verified answer.

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