Answer:
8.65%
Step-by-step explanation:
We have been given that Debra earns $4740 per month. Every month she saves $410. Additionally, she has $2520 in outstanding credit cards and makes a $210 monthly payment of these cards.
[tex]\text{Savings ratio}=\frac{\text{Savings}}{\text{Income}}\times 100\%[/tex]
Upon substituting our given values in above formula, we will get:
[tex]\text{Savings ratio}=\frac{410}{4740}\times 100\%[/tex]
[tex]\text{Savings ratio}=0.08649789\times 100\%[/tex]
[tex]\text{Savings ratio}=8.649789\%[/tex]
[tex]\text{Savings ratio}\approx 8.65\%[/tex]
Therefore, Debra's approximate savings ratio is 8.65%.
