If your monthly net income is $3,000, what should be your maximum amount spent on credit payments? $900 $1,200 $300 $600 $1,500
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So, 30% of $3,000 is $900. Show more…
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Advice from most financial advisers states to spend no more than​ 28% of​ one's gross monthly income for​ one's mortgage​ payment, and to spend no more than​ 36% of​ one's gross monthly income for​ one's total monthly debt. Suppose a family has a gross annual income of ​$39600. What is the maximum amount the family should spend each month for total credit​ obligations?
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