James has a monthly income of $3,300. He also has a monthly rent payment of $800, a monthly and student loan payment of $190. He is looking to finance a new car. What must his maximum monthly car payments be so that his back end DTI (debt-to-income) is at most 40%?

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter2: Solving Linear Equations
Section2.5: Solve Linear Inequalities
Problem 2.118TI: Elliot has a landscape maintenance business. His monthly expenses are $1,100. If he charges $60 per...
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James has a monthly income of $3,300. He also has a monthly rent payment of $800, a monthly and student loan payment of $190. He is looking to finance a new car. What must his maximum monthly car payments be so that his back end DTI (debt-to-income) is at most 40%?

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