Jim has an annual salary of $96,000. His monthly expenses include a $2,500 mortgage payment, a $250 lease payment, $500 in minimum credit card payments, and a $425 payment on his speed boat. He also receives $1,200 in interest from his savings and other accounts each month. Calculate Jim's DTI (debt-to-income) ratio.
a.
30%
b.
35%
c.
40%
d.
45%
Read more: Jim has an annual salary of $96,000. His monthly expenses include a $2,500 mortgage payment, a $250 lease pay?
