If your monthly net (after tax) income is $ 1500,what should be your maximum amount spent on credit payments?

Question

a)$ 200
b)$300
c)$400
d)$500
IS B CORRECT ANSWER?THANK YOU:)))

Answer 1

I don't know of any formula that determines such numbers. It also makes a huge difference whether the credit payments are for car payments or mortgage.

Check your text to see what it recommends.