Jake has total fixed monthly expenses of $1,320 and his gross monthly income is $3,950. What is his debt-to-income ratio? How does his ratio compare to the desire ratio? Debt-to-income ratio =% (Round to the nearest integer as needed.)

Jake has total fixed monthly expenses of $1,320 and his gross monthly income is $3,950. What is his debt-to-income ratio? How does his ratio compare to the desire ratio? Debt-to-income ratio =% (Round to the nearest integer as needed.)

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Question

Jake has total fixed monthly expenses of $1,320 and his gross monthly income is $3,950. What is his debt-to-income ratio? How does his ratio compare to the desired
ratio?
Debt-to-income ratio = % (Round to the nearest integer as needed.)
Jake's ratio is
V the maximum percentage.

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