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Your gross income (pay for before deductions for taxes) is $10,000 a month, and income taxes are estimated at a rate of 20%. In addition, your debt is $2,000 per month. What is your monthly personal debt ratio

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Based on your debt per month and your gross income, the monthly personal debt ratio is 20%.

How can you find the monthly personal debt ratio?

This can be found as:

= Personal debt / Gross income

Solving gives:

= 2,000 / 10,000

= 20%

In conclusion, the personal debt ratio is 20%.

Find out more on personal debt ratio at https://brainly.com/question/24814852.

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