Question: Please explain answer. Experts advise that your debt payments to take home pay ratio should not exceed 20%. A homeowner has the following monthly income

Please explain answer.

Experts advise that your debt payments to take home pay ratio should not exceed 20%. A homeowner has the following monthly income and expenses: Item Value Gross salary $2,000 Taxes/social security $ 340 Visa card payments $ 35 Mastercard payments $ 30 Discover card payments $ 20 Auto loan payments $ 385 What is the homeowner's "debt payments to take home pay" ratio?

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