Give typing answer with explanation and conclusion Louise Gendron’s monthly gross income is $4,800. Her employer withholds $720 in federal and provincial income taxes, $210.68 towards the Canada Pension Plan, and $68.67 for EI contributions. Louise contributes $180 per month to her RRSP. Her monthly credit payments for Visa and MasterCard are $83 and $73, respectively. Her monthly payment on an automobile loan is $465. a. What is Louise’s debt-payments-to-income ratio? (Round your answer to 2 decimal places. Omit "%" sign in your response.) Debt payments–to–income ratio % b. Is Louise living within her means?

Give typing answer with explanation and conclusion Louise Gendron’s monthly gross income is $4,800. Her employer withholds $720 in federal and provincial income taxes, $210.68 towards the Canada Pension Plan, and $68.67 for EI contributions. Louise contributes $180 per month to her RRSP. Her monthly credit payments for Visa and MasterCard are $83 and $73, respectively. Her monthly payment on an automobile loan is $465. a. What is Louise’s debt-payments-to-income ratio? (Round your answer to 2 decimal places. Omit "%" sign in your response.) Debt payments–to–income ratio % b. Is Louise living within her means?

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter3: Income Sources

Section: Chapter Questions

Problem 79P

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