Jon earns a gross income of $42,000 per year as a young engineer. his debt payments, including student loan and rent payments, are $1,500 per month. how much more can he take on in monthly debt payments and not go over a 40% (or higher) ratio of debt payments to gross income?
Asked 1 time · Last asked 2026-11-09
Final Answer
-$100
Step-by-Step Solution
- 1
Find the percentage
Step 1 uses a given number.
40% of 42000 = 16800
- 2
Divide
Step 2 uses the result of an earlier step and a given number.
16800 ÷ 12 = 1400
- 3
Subtract
Step 3 uses the result of an earlier step and a given number.
1400 - 1500 = -100