1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
satela [25.4K]
3 years ago
10

Using the 20/10 rule, calculate the maximum amount to borrow if your net yearly income is $75,000

Business
1 answer:
Delvig [45]3 years ago
3 0
Using the 20/10 rule: you should never borrow more than 20% of your annual net income and monthly payments shouldn't be more than 10% of your monthly net income.

In this situation, we know the yearly net income is $75,000.
First we want to multiply 20% by $75,000  = $15,000 
$15,000 is 20% of your yearly net income.
This would be the most you'd want to borrow given the information provided. 
You might be interested in
Siren Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2020, the company incurred
Naddik [55]

Answer:

Part A.

$16.75

Part B.

Variable costing income statement for 2017

Fi

Part C.

Part D.

Absorption costing income statement for 2017

Explanation:

<em>The question is incomplete, however see explanations below</em>

Cost per unit - Variable Costing

<em>Only consider the Variable Manufacturing Costs</em>

Cost per unit - Variable Costing = $16.75

Cost per unit - Absorption Costing  

<em>Consider Both Variable and Fixed Manufacturing Costs</em>

7 0
3 years ago
Without trade, the farmer produced and consumed 2 pounds of pork and 4 pounds of tomatoes and the rancher produced and consumed
Elis [28]

Answer:

the farmer gained 6 hours worth of production and the rancher gained 8 hours worth of production.

Explanation:

                 Labor Hours to Make 1 lb. of        lbs. Produced in 24 Hours

                  Pork                  Tomatoes              Pork            Tomatoes

Farmer        6                            3                       4                       8

Rancher     4                            4                       6                      6

If both decide to specialize in producing only one good, the farmer will produce 8 pounds of tomatoes per day and the rancher will produce 6 pounds of pork per day.

This way when the rancher trades 4 pounds of pork in exchange for 6 pounds of tomatoes, he is gaining 2 pounds of pork which is equivalent to 8 labor hours.

When the rancher trades 6 pounds of tomatoes in exchange for 4 pounds of pork, he is gaining 2 pounds of tomatoes which is equivalent to 6 labor hours.

6 0
3 years ago
The basic model of an automobile costs $15,000. Andrea added the following options: air conditioning, $800; satellite radio, $20
fgiga [73]

Answer:

the final cost will be addition of all numbers given

15000+800+200+350+700+500+150+600 =

18300$ of total cost of Andrea's automobiles

6 0
3 years ago
The present value of $40,000 to be received in two years, at 12% compounded annually, is (rounded to nearest dollar)
ratelena [41]

Answer:

c. $31,888

Explanation:

The formula for calculating the present value is as below

Pv = FV x {  1/ (1+ r)^n }

Pv = $40,000 x { 1/ (1 +0.12)^2

Pv =$40,000 x (1/1.2544)

Pv =$40,000 x 0.7971938

Pv =$31,887.50

6 0
3 years ago
Harry is a citizen and resident of Saudi Arabia. During the current year, Harry never visits the United States, nor does he hold
rjkz [21]

Answer:

The source of income is the capital gain realized when Harry sold the stocks of Extel Corporation. Generally, nonresident aliens (like Harry) are subject to a 30% tax on all their US income sources. E.g. if Harry made a capital gain of $1,000 when he sold the stocks, he will need to pay $300 to the IRS.

Some exemptions apply to foreign students, resident aliens or people that work for foreign governments, but Harry doesn't fit in any of these categories.

7 0
3 years ago
Other questions:
  • Match the academic requirements with the careers.
    7·2 answers
  • Why do Marketers use perceptual maps as a means to display or graph in two dimensions the location of products or brands?
    9·1 answer
  • ​refer to table 3-37. sarah and charles are both potters and each can switch between the production of vases and mugs at a const
    5·1 answer
  • What is the third stage of the rational model of decision making? Identify the problem or opportunity. Implement and evaluate th
    11·2 answers
  • The commercial for-profit segment of the food-service industry is very narrow. true or fasle
    7·1 answer
  • Mary purchased a 10-year par value bond with semiannual coupons at a nominal annual rate of 4% convertible semiannually at a pri
    5·1 answer
  • Three airlines account for most of the air traffic in and out of a local city. If the three airlines joined together in setting
    10·1 answer
  • A method of concealing receivables skimming by crediting one account while abstracting money from a different account is known a
    10·1 answer
  • What is the point called where the supply curve and the demand curve meet?
    11·1 answer
  • Bill and Fred bake cakes and pies. Bill's opportunity cost of baking 1 pie is 5 cakes. Fred's opportunity cost of baking 1 pie i
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!