a young person graduated college, has a job and is living at home with his parents. his monthly gross pay is…

a young person graduated college, has a job and is living at home with his parents. his monthly gross pay is $1,400 with a net of $1,000 to take home. the persons monthly payment for loans is $200 and he pays $50 for his phone bill. to determine the persons debt - to - income ratio one should compare\n$250 to $1,400.\n$250 to $1,000.\n$200 to $1,400.\n$200 to $1,000.

a young person graduated college, has a job and is living at home with his parents. his monthly gross pay is $1,400 with a net of $1,000 to take home. the persons monthly payment for loans is $200 and he pays $50 for his phone bill. to determine the persons debt - to - income ratio one should compare\n$250 to $1,400.\n$250 to $1,000.\n$200 to $1,400.\n$200 to $1,000.

Answer

Explanation:

Step1: Calculate total monthly debt

The person pays $200 for loans and $50 for the phone - bill. So the total monthly debt is $200 + $50=$250.

Step2: Determine the income to use

Debt - to - income ratio uses net income. The net income is $1000.

Answer:

$250$ to $1000$, so the answer is B. $250$ to $1000$.