Cindy would like to apply for a loan but knows that her debt-to-income (dti) ratio will keep her from being approved. her monthly expenses include an $800 rent payment, a $230 car payment, a $175 student loan payment and a $160 minimum payment for all three of her credit cards combined. her current gross monthly income is $2,900. what minimum additional gross monthly income does cindy need to get her dti down to 36%?

$891.67

Step-by-step explanation:

Given that her gross monthly income is $2,900.

Her expenses are given as follows:-

#Rent payment = $800.

#Car payment = $230.

#Student loan payment = $175.

#Credit card payment = $160.

Total expenses = $800 + $230 + $175 + $160 = $1,365.

Let's assume she need '$x' as minimum additonal monthly income to get DTI < 36%.

So, her debt = $1,365 and her income = $(2,900+x).

Debt-to-Income ratio would be 1365/(2900+x).

Hence, Cindy needs $891.67 as an additional gross monthly income to get DTI < 36%.

what does x eaqual

step-by-step explanation:

the solution of the equation is 2.23 ⇒ answer b

step-by-step explanation:

* lets revise the meaning of exponential function

- the form of the exponential function is y = ab^x, where a ≠ 0, b > 0 ,  

  b ≠ 1, and x is any real number

- it has a constant base b

- it has a variable exponent x

- to solve an exponential equation, take the log or ln of both sides,  

  and solve for the variable

* lets solve the problem

∵

- the base is 7 and the exponent is x

- insert ㏑ in both sides

∴

- use the rule

∴ x ㏑(7) = ㏑(77)

- to find x divide both sides by ㏑(7)

∴

* the solution of the equation is 2.23 to the nearest 2 decimal places