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Mike and Teresa Have a Monthly Gross Income of $5,000

Question 88

Multiple Choice

Mike and Teresa have a monthly gross income of $5,000. They pay $1,000 per month toward taxes and $2,000 per month toward various loans. What is their debt service ratio?


A) 20%
B) 30%
C) 40%
D) 50%
E) 60%

Correct Answer:

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