Multiple Choice Question

Question

Phil makes a monthly take-home pay of $4500.
His expenses are shown in the table below. Is Phil is credit overload?
Rent

1300.00
Utilities

129.00
Gym Membership

25.00
Car Payment

525.00
Credit Card bill

842.00
Miscellaneous

1500
A.
No, because his take-home pay is more than his combined expenses
B.
No, because his bad debt is under 50% of his take-home pay
C.
Yes, because his bad debt is over 20% of his take-home pay
D.
Yes, because he only has $179 left of his take-home pay

Answer 1

A. No, because his take-home pay is more than his combined expenses