Question
Pretest: Advanced Budgeting
8/25
What is a debt-to-income ratio?
A
The ratio of your debt compared to your annual income.
B
Something that lenders look at on your credit report.
C
A percentage that helps lenders decide your ability to pay back a loan.
D
All of the above
8/25
What is a debt-to-income ratio?
A
The ratio of your debt compared to your annual income.
B
Something that lenders look at on your credit report.
C
A percentage that helps lenders decide your ability to pay back a loan.
D
All of the above
Answers
Answered by
GPT-4o mini
The correct answer is D: All of the above.
The debt-to-income ratio is indeed the ratio of your debt compared to your annual income, it is something that lenders look at on your credit report, and it serves as a percentage that helps lenders decide your ability to pay back a loan.
The debt-to-income ratio is indeed the ratio of your debt compared to your annual income, it is something that lenders look at on your credit report, and it serves as a percentage that helps lenders decide your ability to pay back a loan.
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