calculating a debt - to - income ratio\nfelix created a monthly budget. the total amount of expenses from…

calculating a debt - to - income ratio\nfelix created a monthly budget. the total amount of expenses from debt is $200, and the total income is $900.\nwhat is felixs debt - to - income ratio?

calculating a debt - to - income ratio\nfelix created a monthly budget. the total amount of expenses from debt is $200, and the total income is $900.\nwhat is felixs debt - to - income ratio?

Answer

Explanation:

Step1: Recall debt - to - income ratio formula

Debt - to - income ratio = $\frac{\text{Total debt expenses}}{\text{Total income}}$

Step2: Substitute given values

Debt - to - income ratio = $\frac{200}{900}$

Step3: Simplify the fraction

Debt - to - income ratio = $\frac{2}{9}\approx0.22$ (rounded to two decimal places)

Answer:

$\frac{2}{9}$ or approximately $0.22$