Answer:
Malcolm’s debt-to-income ratio is 0.8125
Step-by-step explanation:
we know that
To find out Malcolm’s debt-to-income ratio, divide monthly expenses by the monthly salary
Let
x ------> Malcolm’s monthly expenses
y -----> Malcolm’s monthly salary
In this problem we have
[tex]x=\$975\\ y=\$1,200[/tex]
The ratio is equal to
[tex]975/1,200=0.8125[/tex]
