Louise McIntyre's monthly gross income is $2,000. Her employer withholds $400 in federal, state, and local income

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Louise McIntyre's monthly gross income is $2,000. Her employer withholds $400 in federal, state, and local income taxes and $160 in Social Security taxes per month. Louise contributes $80 per month for her IRA. Her monthly credit payments for Visa, MasterCard, and Discover card are $35, $30, and $20, respectively. Her monthly payment on an automobile loan is $285. What is Louise's debt payments-to-income ratio? Is Louise living within her means?
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Personal Finance

ISBN: 978-0077861643

11th edition

Authors: Jack Kapoor, Les Dlabay, Robert J. Hughes

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