Jim has an annual salary of $96,000. His monthly expenses include a $2,500 mortgage payment, a $250 lease payment, $500 in minimum credit card payments, and a $425 payment on his speed boat. He also receives $1,200 in
interest from his savings and other accounts each month. Calculate Jim's DTI (debt-to-income) ratio.
a. 30%
b. 35%
c. 40%
d. 45%we