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you owe $3450.00, what credit limit gives you an acceptable debt ratio?

$4000

$2000

$7000

$5500

Verified Answer :

YukiRozu

The answer is $7,000 I believe

Solution:

Debt Ratio= (Total liabilities which includes debts, and other expenses) ÷ (Total amount of worth possessed)

A debt ratio of approximately 0.5 is considered to be reasonable.

Money Owed by you = $ 3450.00

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So, the Credit limit which gives Acceptable Debt of $ 3450.00 when debt ratio is approximately more or less than 0.5 is

Out of the following four options

Option (D) $ 7,000 is true, regarding Credit limit.

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