You make the following monthly payments. Your total net income (net of taxes) is $3,000. Calculate your total debt-to-income ratio.The minimum payment on the credit card is $30. Assume rent as debt.EntertainmentRent$600Car payment$253Credit card payment $100Utilities$200Groceries$25036%.42%.34%.39%.Health insuranceTaxesGasolineRetirement savingsStudent loan payment$300$500$450$185$150$300

Rent$600Car Payment$253Credit card payment$30Student loan payment$300Net income$3,000Required:Debt…

Answered: You make the following monthly…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Similar questions

Calculate the amount financed, the finance charge, and the monthly payments (in $) for the add-on interest loan. (Round your answers to the nearest cent.) Purchase(Cash)Price DownPayment AmountFinanced Add-onInterest Number ofPayments FinanceCharge MonthlyPayment $711 10% $ 6% 12 $ $
Hypothetically, Suppose that a monthly net income is $3,340. Your monthly debt payments include your student loan payment and a gas credit card. They total $1,002. What is your debt payments-to-income ratio? I do not know how to enter the answer as a percent rounded to the nearest whole number. please help
Calculate the finance charge for a credit card that has the given average daily balance and interest rate. Round your answers to the nearest cent. averagevdaily balance: $113.43; monthly interest rate: 1.35%
Calculate the amount financed, the finance charge, and the monthly payments (in $) for the add-on interest loan. (Round your answers to the nearest cent.)
A credit card company calculates its minimum monthly payment as 3% of the credit card balance or $20, whichever is greater. If Emile Fritz has a credit balance of $375.48, what is his minimum monthly payment (in dollars?) Round your answer to the nearest cent.)
Jamie Lee wants to determine if she can afford the monthly payments for all of her purchases before she completes the applica process. Use the information below to determine her debt payment-to-income ratio. Current Financial Situation Assets: Income: Checking account $1,900 Savings account $7,400 Gross monthly salary Net income $2,850 $2,195 Emergency fund savings account $2,900 Monthly Expenses: IRA balance $430 Rent obligation $370 Car $3,000 Utilities/Electric $80 Liabilities: Utilities/Water $50 Student loan $11,000 Utilities/Cable $75 (Jamie is still a full-time student, so Food $135 no payments are required on the loan Gas/Maintenance $140 until after graduation) Credit card payment $0 Acme Home Goods (Washer/dryer $1,650 Acme Home Goods $41 and refrigerator) Local Home Furnishings (Sofa $1,750 Local Home Furnishings $46 set) Big Box Store (52" LED HDTV) $1,150 Big Box Store $29 Automobile, Education, Personal, and Installment Loans Financial Institution or Account Number…
Calculate the amount financed, the finance charge, and the monthly payments (in $) for the add-on interest loan. (Round your answers to the nearest cent.) Purchase Add-on Monthly Payment Down Amount Number of Finance (Cash) Price Payment Financed Interest Payments Charge $50,100 25% $ 37,575 13.2% 60 $ 24799.5 $ 1040
Calculate the amount financed, the finance charge, and the monthly payments (in $) for the add-on interest loan. (Round your answers to the nearest cent.) Purchase Monthly Payment Down Amount Add-on Number of Finance (Cash) Price Payment Financed Interest Payments Charge 14 % $ 616.30 $2,000 15% $ 1,700 30 2$ 77.21 2
Calculate the amount financed, the finance charge, and the monthly payments (in $) for the add-on interest loan. (Round your answers to the nearest cent.) Purchase Down Add-on Number of Finance Monthly Payment Amount (Cash) Price Payment Financed Interest Payments Charge $50,900 25% 13.2% 60
Calculate the finance charge (in $), the finance charge per $100 (in $), and the annual percentage rate for the installment loan by using the APR table. (Round dollar amounts to the nearest cent.) AmountFinanced Number ofPayments MonthlyPayment FinanceCharge Finance Chargeper $100 APR $17,950 48 $551.47 $ $ %
Calculate the amount financed, the finance charge, and the monthly payments (in $) for the add-on interest loan. (Round your answers to the nearest cent.) Purchase Monthly Payment Down Amount Add-on Number of Finance (Cash) Payment Financed Interest Payments Charge Price 12-% $2,000 15% 2$ 1700 30 $ $ 2
You charged $3,172 on a credit card. If you pay the minimum payment per month of $46.69, you will pay it off after making 96 payments. How much total interest will you pay?

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