Question

Logan's only debt obligations are a car loan payment of $512 and a credit card payment of $70 every month. What is the minimum amount of money he must take home every month in order to avoid being in danger of credit overload?

A. $2328
B. $2560
C. $582
D. $2910

Answer 1

You will need a rule for that. 30%? 40%?

Answer 2

512+70 = 582

582/2328 = 0.25
582/2560 = 0.22734375
582/582 = 1.00
582/2910 = 0.2

If your rule is anything but 20%, 22.734%, 25%, or 100%, you are out of luck.

Answer 3

Do you know that rule?

Answer 4

yikes!

Answer 5

it was 2910