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Elden [556K]
3 years ago
12

Kim is trying to decide whether she can afford a loan she needs in order to go to chiropractic school. Right now Kim is living a

t home and works in a shoe store, earning a gross income of $1,760 per month. Her employer deducts $199 for taxes from her monthly pay. Kim also pays $189 on several credit card debts each month. The loan she needs for chiropractic school will cost an additional $172 per month. Help Kim make her decision by calculating her debt payments-to-income ratio with and without the college loan.
Required:
a. Carl’s house payment is $1,640 per month and his car payment is $482 per month. If Carl's take-home pay is $3,250 per month, what percentage does Carl spend on his home and car?
b. Suppose that your monthly net income is $2,850. Your monthly debt payments include your student loan payment and a gas credit card. They total $1,140. What is your debt payments-to-income ratio?
Business
1 answer:
andriy [413]3 years ago
8 0

Answer:

1. Kim:

Debt payments-to-income ratio with the college loan

= 23%

2. Carl:

Percentage spent on home and car

= 65.3%

3. Debt payment to income ratio

= 40%

Explanation:

Kim's Data and Calculations:

Gross income = $1,760

Income taxes         -199

After Tax Income $1,561 per month

Credit card debts = $189 per month

School loan = $172 per month

Total Debt payments = $361

Debt payments-to-income ratio with the college loan

= $361/$1,561 = 23%

Carl:

House payment = $1,640

Car payment = $482

Total payments = $2,122

Take-home pay = $3,250

Percentage spent on home and car = 65.3% ($2,122/$3,250 * 100)

3. My monthly net income = $2,850

Monthly debt payments = $1,140

Debt payment to income ratio

= $1,140/$2,850 * 100

= 0.4

= 40%

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nika2105 [10]

Answer:

1. quickly describe large amounts of data

2. the stock is worth 15% more at the end of the year than at the beginning

3. 9.2%

Explanation:

Descriptive statistics helps to quickly describe large amounts of data because it simply involves using certain measurement tools to describe the data seen such that patterns emerge that will help in analyzing the data. Examples include, frequency tables and measures of variation like range and standard deviation.

When a stock has a 15% return, it means that the owner is getting 15% more than the amount that the stock cost them therefore showing that the stock is worth 15% more at the end of the year than at the beginning.

The return on the stock is;

= (4.75 - 4.35) / 4.35

= 9.2%

3 0
2 years ago
At year end, CurlZ, Inc.'s inventory consists of 370 bottles of CleanZ at $3 per bottle and 270 boxes of DyeZ at $10 per box. Ma
laiz [17]

Answer:

Curlz should report his inventory at a Total value of $3,270

Explanation:

In reporting inventory, the market values are only used when the price of a particular commodity or product falls below the purchase value.The inventory will therefor register a loss if the price falls. However, when the market value rises above the purchase value, we use the purchase value in our inventory since the rules of accounting do not allow for anticipated profits: they can only be reported once the sale is made and the market value at that point in time is higher than the purchase value.

The inventory will include;

Initial values;

Number of bottles of Clean Z=370 bottles

Price per bottle of clean Z=$3

Number of boxes of Dye Z=270 boxes

Price per Dye Z=$10

Market values;

Price per bottle of clean Z=$3.20

Price per box of Dye Z=$8

Inventory report;

Since market value of clean Z ($3.20)is greater than its initial value ($3), then in our inventory we will use the lesser value=$3 per bottle for 370 bottles.

Additionally, since market value of dye Z ($8) is lesser than its initial value ($10), then in our inventory we will use the lesser value=$8 per box for 270 boxes

The total value of the inventory will be;

Total value=(Number of bottles of Clean Z×price per bottle of clean Z)+(Number of boxes of Dye Z×price per Dye Z)

where;

Number of bottles of Clean Z=370 bottles

price per bottle of clean Z=$3

Number of boxes of Dye Z=270 boxes

price per box of Dye Z=$8

replacing;

Total value=(370×3)+(270×8)=$3,270

Total value=$3,270

3 0
3 years ago
Analyze a local space that is open to the public. It can be a store or mall, a club, restaurant, or a school (like COC), perhaps
enyata [817]

Answer:

Local spaces open for public to help them with social activities. Parks, gyms, store, mall and clubs are some of local spaces which are open to everyone for gaining relaxation in their leisure time.

Explanation:

People are busy in weekdays and they need some place for relaxation on weekend. There are many places which provide with recreational activities for people to relax and spend their weekends with their family.

7 0
3 years ago
Julie Martin is investing $26,600 in the Invesco Charter mutual fund. The fund charges a 4.50 percent commission when shares are
Sergeeva-Olga [200]

Answer:

$1,264.50

Explanation:

Calculation for the amount of commission Julie must pay.

Using this formula

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Let plug in the formula

Commission= $28,100 × 0.045

Commission= $1,264.50

Therefore the amount of commission Julie must pay is $1,264.50

6 0
2 years ago
Just before colliding with another vehicle, you should __________.
S_A_V [24]
Just before colliding with another vehicle, you should t<span>ake your foot off the brake pedal.
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