Gloria has a mortgage of $1,200, a car payment o $265, and student loan payments of $225.  Gloria grosses $5,350 per month. What is Gloria’s backend debt-to-income ratio.         If Gloria wants to buy a new computer system for $2,200.  What you would you tell Gloria if she wants to keep her backed DTI at no more than 40%?

College Algebra
10th Edition
ISBN:9781337282291
Author:Ron Larson
Publisher:Ron Larson
Chapter1: Equations, Inequalities, And Mathematical Modeling
Section1.3: Modeling With Linear Equations
Problem 3ECP: Your family has annual loan payments equal to 28 of its annual income. During theyear, the loan...
icon
Related questions
Question
  1. Gloria has a mortgage of $1,200, a car payment o $265, and student loan payments of $225.  Gloria grosses $5,350 per month.

What is Gloria’s backend debt-to-income ratio.

 

 

 

 

If Gloria wants to buy a new computer system for $2,200.  What you would you tell Gloria if she wants to keep her backed DTI at no more than 40%?

Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Recommended textbooks for you
College Algebra
College Algebra
Algebra
ISBN:
9781337282291
Author:
Ron Larson
Publisher:
Cengage Learning
Intermediate Algebra
Intermediate Algebra
Algebra
ISBN:
9780998625720
Author:
Lynn Marecek
Publisher:
OpenStax College
Elementary Geometry For College Students, 7e
Elementary Geometry For College Students, 7e
Geometry
ISBN:
9781337614085
Author:
Alexander, Daniel C.; Koeberlein, Geralyn M.
Publisher:
Cengage,
Holt Mcdougal Larson Pre-algebra: Student Edition…
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL