1. You want to buy a car, and your gross annual income is $25,000. a. At 15% of your monthly income, how much of a loan payment can you make? (1) $425.00 (2) $350.00 (3) $312.50 (4) $350.12 b. To keep...

1. You want to buy a car, and your gross annual income is $25,000.

a. At 15% of your monthly income, how much of a loan payment can you make?

(1) $425.00

(2) $350.00

(3) $312.50

(4) $350.12

b. To keep your total debt payment under 36% of your monthly income, how much money do you have left for rent and other debt obligations?

(1) $450.37                                                          (3) $537.40

(2) $437.50                                                          (4) $540.50