Seth has a monthly income of $2,500. He has a $400 car payment and owes $225 on electronic equipment. What is the percentage of Seth's income he is paying out in debt payments

25%

Explanation:

Given:

Seth has a monthly income of $2,500

He has a $400 car payment

He owes $225 on electronic equipment.

Question asked:

What is the percentage of Seth's income he is paying out in debt payments?

Solution:

He has a car payment = $400

He owes on electronic equipment = $225

These two items are treated as debt for Seth as these items are used first then pay for it.

Total debt =  $400 +  $225

Total debt = $625

Now, we will find percentage of Seth's income he is paying out in debt payments,

Therefore, 25% of Seth's income he is paying out in debt payments.

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