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3 years ago

Jonathan just graduated college and can expect monthly loan payments of $405. His new job provides him

Business

2 answers:

Nadusha1986 [10]3 years ago

7 0

36000/12=3000

so 3000 a month he makes.

3000-405=2,595

405x12= 4860

alex41 [277]3 years ago

5 0

Jonathan just graduated college and can expect monthly loan payments of $405. His new job provides him with an annual salary of $36,000. What is his debt‐to‐income ratio?

If Jonathan's monthly loan payment is $405 that that's is only debt, solve to find his monthly income first.

$36,000/12 = $3,000 Jonathan's debt to income ratio is $405 (debt)/ $3,000 (income).

The debt to income ratio is solved by dividing your monthly expenses by your monthly income $405/$3,000 = 7.41% is Jonathan's debt to income.

What is the acceptable debt‐to‐income range for student loans and does Jonathan’s fall within that range? This seems like a fairly low debt to income ratio for students loans because it only takes up a small percentage of Jonathan's monthly income.

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4 years ago

Read 2 more answers

If the marginal propensity to consume is equal to 0.85, then a $500 increase in disposable income leads to a:

AlekseyPX

The question is incomplete. The complete question is stated below.

If the marginal propensity to consume is equal to 0.85, then a $500 increase in disposable income leads to a:

a. $400 increase in consumption spending

b. $75 increase in consumption spending

c. $425 increase in personal saving

d. $75 increase in personal saving

Answer:

If a $500 increase causes an increase of $425 in consumer spending, the rest of $75 is the increase in personal saving. Thus, option D is the correct answer.

Explanation:

The marginal propensity to consume or MPC is the percentage of the additional income that will be used for consumption spending. It is a concept that is used to calculate how much of an increase in income will be used in consumption and saving. The formula to calculate MPC is,

MPC = Change in consumer spending / Change in income

0.85 = Change in consumer spending / 500

500 * 0.85 = Change in consumer spending

Change in consumer spending = $425

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