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2 years ago

The debt payments-to-income ratio is:

1 answer:

5 0

Answer: The debt payments-to-income ratio is: calculated by dividing monthly debt payments (excluding mortgage payments) by net monthly income.

This ratio is a measure that analyze an person’s monthly debt payment in accordance with his/her monthly income.

The gross income is the pay before taxes and other variables are deducted.

<em>i.e. </em><em>debt payments-to-income ratio = $\frac{Total\: of\: Monthly\: Debt\: Payments}{Gross\:Monthly\:Income}$ </em>

<em>Therefore, the correct option is (b)</em>

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Gerritt wants to buy a car that costs $30,750. The interest rate on his loan is 5.65 percent compounded monthly and the loan is

svet-max [94.6K]

Answer:

$444.07

Explanation:

EMI = [P * I * (1+I)^N]/[(1+I)^N-1]

P =loan amount or Principal = 30750

I = Interest rate per month = .0565/12

N = the number of installments = 7*12 = 84

EMI = [30750*.0565/12* (1+(.0565/12))^84]/[(.0565/12))^84-1]

EMI = [30,750 * 0.0565 / 12 * 1.48374877204] / [1.48374877204 - 1]

EMI = 214.819001902 / 0.48374877204

EMI = $444.07

7 0

2 years ago

An unmarried person, a divorced person, or a person legally separated from his or her spouse must choose which filing status whe

Nadusha1986 [10]

<span>B.Married filing separately</span>

3 0

2 years ago

Read 2 more answers

You need some money today and the only friend you have that has any is your ‘miserly' friend. He agrees to loan you the money yo

Bingel [31]

Answer:

B. The total interest = $4.35

Explanation:

The first question to answer, is what is the present value of the annuity of the loan and then based on that the total interest can be calculated.

<h2>Present value of annuity= A x [(1-(1+r)-n)/r]*(1+r) </h2>

Where the A represents Annuity = or $20

The r represents the rate or 1.5%

and the n represents the number of periods which is 6 months

Calculating the value =

= 20 x [(1-1.015^-6)/0.015]*1.015

= 20 x [(1-0.91454219251)/0.015]*1.015

= 20*5.782644973

=$115.65

Now that the loan amount is known, the Total Interest can be calculated as follows

Total Interest= number of payments x monthly payments) - the loan amount (calculated above)

= 20 x 6 -115.65

= 120-115.65

The total interest = $4.35

8 0

3 years ago

You are doing a sales presentation for Ms. Duarte and her son. Ms. Duarte has some cognitive impairment and her son informs you

Jet001 [13]

Answer:

Yes he can execute the enrollment for her

Explanation:

The power of attorney is a legal document that given the authority to act in place on another person. It can be represented on behalf of other people so that the act could be done.

Here the individual can act legal with respect to the financial issue, property matters, etc

Therefore according to the given situation yes he can be executed

4 0

2 years ago

Adams Bautista needs $26,700 in 8 years. Click here to view factor tables

alexandr1967 [171]

Answer:

a. $10,783.68

b. $10,510.36 semi annual compounding

Explanation:

a. This question requires the present value of $26,700 given 8 years and compounded annually at 12%.

Present Value = $\frac{Future Value}{ ( 1 + interest)^{number of periods} }$

Present Value = $\frac{26,700}{ 1.12^{8} }$

Present Value = $10,783.68

He would need to invest $10,783.68 today.

b. This is a duplicate of question 1 but I will solve it assuming semi-annual compounding just in case.

12% per annum would become = 12/2 = 6% per semi annum

Number of periods would become = 8 * 2 = 16 periods

Present Value = $\frac{Future Value}{ ( 1 + interest)^{number of periods} }$

Present Value = $\frac{26,700}{ 1.06^{16} }$

Present Value = $10,510.36

He would need to invest $10,510.36 today.

4 0

2 years ago