SOLUTION: Car payment. As a rule of thumb,debt payments (other than mortgages) should be less than 8% of a consumer's monthly gross income. Oliver makes $54,000 a year and has a $100

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Question 413147:
Car payment. As a rule of thumb,debt payments (other than mortgages) should be less than 8% of a consumer's monthly gross income. Oliver makes $54,000 a year and has a $100 student-loan payment every month.What size car payment can he afford.

Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
(54000*0.08)/12=360
360-100=260 per mo