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suppose your monthly net income is $2,400. your monthly debt payments include your student loan payment and a gas credit card. they total $360. what is your debt payments-to-income ratio?



Answer :

AmishaSrivastava

Debt payments-to-income ratio is 3 : 20.

What is a debt?

  • Debt is  money you owe and credit is money you can borrow. You create debt by borrowing money on credit.
  • Borrowed: Obligation unable to pay  his debt.
  • The most important types of personal debt are secured debt, unsecured debt, revolving debt and mortgages.
  • Secured debt requires some form of guarantee, while unsecured debt is based solely  on personal creditworthiness.
  • A debt is a financial obligation or obligation owed by one person, the debtor, to another creditor.
  • A loan (creditor or lender) to repay that money.

To learn more about debt from the given link :

https://brainly.com/question/17286021

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