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Misty earns $ 5 , 5 0 0 per month. She pays $ 7 0 0 each month in rent. She also makes these monthly

Misty earns $5,500 per month. She pays $700 each month in rent. She also makes these monthly payments: $250 for her car payment, $100 for her student loan payment, and $275 for her credit card bill.
a) What would Misty's Front-End DTI be? Round your answer to the nearest tenth of a percent.
%
b) What would Misty's Back-End DTI be? Round your answer to the nearest tenth of a percent.
c) Based on your answers to parts (a) and (b), would the bank approve a loan that Misty applies for? Use the cutoffs that were discussed in class (Front-End DTI 28% and Back-End DTI 36%) to make your decision.
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