What is your debt payments-to-income ratio if your debt payments total $339 and your net income is $1,000 per month? (Enter your answer as a percent rounded to 1 decimal place.) Debt payments-to-income ratio While understanding debt-payments-to-income ratios are beneficial, don't forget the goal to be debt-free. So your current debt- payments-to-income ratio (and your debt-to-equity ratio) should always be decreasing to zero. As we get into automobile loans and home loans in the next chapters, we will discuss what are reasonable ratio thresholds Carl's house payment is $1,750 per month and his car payment is $393 per month. If Carl's take-home pay is $3,800 per month, what percentage does Carl spend on his home and car? (Enter your answer as a percent rounded to 2 decimal places.) oan payments-to-income ratio The good financial rule of thumb is not to have more than 40% of your take-home pay (net pay) dedicated to paying off debt and no more than 25% dedicated for your housing alone (rent or mortgage). Strive to be debt-free. Remember, you should strive to make your money work for you instead of working to make money for the financial institutions through loan payments, interest and fees. Dave borrowed $550 on January 1, 2017, and paid it all back at once on December 31, 2017. The bank charged him a service charge of $3.50 and interest was $37.20. What was the APR? (Enter your answer as a percent rounded to 2 decimal places.) nnual percentage rate 0 What are the interest cost and the total amount due on a six-month loan of $1,200 at 14.2 percent simple annual interest? (Do not round intermediate calculations. Round your answers to 2 decimal places.) Interest cost Total amount due