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Yen has a net salary of $3,722 each month. Her fixed monthly expenses consist of $500 for rent. She also makes a monthly car payment of $299, not including her monthly car insurance premium of $173. Are these payments within Yen's recommended limit?

Respuesta :

Yes These payments are within Yen's recommended limit.

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Answer:

Yen's payments are within recommended limits.

Explanation:

Considering that Yen 's debts can't be over 28% of her income, as this is a general common sense rule. Let's calculate how much her debts represent:

[tex]\$500+\$299+\$173=\$972\Rightarrow \frac{\$972}{\$3722}\approx 26.11\%[/tex]

So, yes. Yen's payments are within recommended limits.

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