Louise McIntyre’s monthly gross income is $3,900. Her employer withholds $860 in federal, state, and local income taxes

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answerhappygod
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Louise McIntyre’s monthly gross income is $3,900. Her employer withholds $860 in federal, state, and local income taxes

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Louise McIntyre’s monthly gross income is $3,900. Her employer
withholds $860 in federal, state, and local income taxes and $410
in Social Security taxes per month. Louise contributes $260 each
month to her IRA. Her monthly credit payments for VISA and
MasterCard are $145 and $185, respectively. Her monthly payment on
an automobile loan is $295.
a. What is Louise's debt
payments-to-income ratio? (Enter your answer as a
percent rounded to 2 decimal places.)
b. Is Louise living within her means?
multiple choice
No Correct
Yes
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