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Sebastian takes home $3200 per month from his job as an office manager. If his only debt obligations are a car loan payment of $580 and a credit card payment of $140 every month, is he in danger of credit overload?

Respuesta :

Yes, because the sum of $580 and $140 is greater than $640 - Apex

Answer: No, he is not in danger of credit overload.

Step-by-step explanation:

Since we have given that

Amount Sebastian takes home from his job as an office manager = $3200

Amount of debt on a car loan = $580

Amount of credit card payment = $140

So, Amount that deducted from his salary to pay off debt is given by

[tex]\$580+\$140=\$720[/tex]

And Amount is left to Sebastian is given by

[tex]\$3200-\$720\\\\=\$2480[/tex]

Hence, No, he is not in danger of credit overload.

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