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
Natalija [7]
2 years ago
12

A prospective borrower has an estimated monthly housing expense of $486, and his monthly obligations total $684. If the borrower

's monthly gross income is $1,950, what is the total obligations ratio?
Business
1 answer:
andrew11 [14]2 years ago
7 0

Answer:

TOR = 0.350

Explanation:

Data provided;

Estimated monthly housing expenses = $ 486

Total monthly obligations = $ 684

The monthly gross income of the borrower = $ 1,950

Now,

the total obligation ratio is calculated as:

Total obligation ratio (TOR) = (Total monthly obligations) / (The monthly gross income of the borrower)

on substituting the values, we get

TOR = $ 684 / $ 1,950

or

TOR = 0.350

You might be interested in
Quantitative easing is the Question 8 options: gradual release of money into the money supply through open market operations. ta
RideAnS [48]

Answer: targeted use of open market operations in which a central bank targets certain markets

Explanation:

Quantitative easing is referred to as the targeted use of the open market operations whereby a central bank targets certain markets.

Quantitative easing (QE) is a form of monetary policy whereby the central bank buys securities from the open market so as to enable a scenario where there'll be a rise in the money supply and also encourage investment and lending in the economy.

7 0
3 years ago
Upon seeing the fraser's spiral, most people must carefully trace one of the circles to confirm what is "real" in the design. th
alexdok [17]
The answer to this question is Reality testing
In business term, Reality testing refers to the process to separate our emotion to see the actual situation that revolves around us.
By doing this, we will keep ourselves from relying on negative emotions to make a decision and start to use objective measures to predict the outcome.
7 0
3 years ago
Universal Travel Inc. borrowed $500,000 on November 1, 2013, and signed a 12-month note bearing interest at 6%. Interest is paya
valentinak56 [21]

Answer:

C.$5,000.

Explanation:

November 1, 2013

Amount of Loan = $500,000

As the Interest is payable at maturity, at December 31, 2013 only one month of interest expense is accrued, which is not paid, Following Journal entry will be passed tor record the interest expense.

Dr.  Interest Expense               $2,500

Cr.  Interest Payable on Note  $2,500

Interest Expense = $500,000 x 6% x 2/12 = $5,000

6 0
3 years ago
On January 2 Kelly company performed $800 worth of services for a client. The client paid $100 immediately, but promised to pay
Sliva [168]

Answer:

$100, $700, $800

Explanation:

Calley Journal entries would include:

Debiting $100 to the cash account

Debit the $700 to the receivables account

Credit $800 to the revenue account

This follows the double entry rule that a credit in one account must correspond to at least one debit in another account.

We debit all asset accounts(receivables,cash) when increased and credit all liabilities account when increased. We credit all income account(revenue) when increased and debit all expenses account when increased.

6 0
3 years ago
Read 2 more answers
In wayne dennis's study of infants in iranian orphanages, only 15 percent of the orphans were walking alone by 3 to 4 years of a
Romashka-Z-Leto [24]
The answer to the question above is this: <span>they spent their days lying on their backs in cribs. Wayne Dennis has studied infants in Iranian orphanages. The infants in these orphanages were more on left lying on their backs on their cribs and this results in the delay of their physical development such as walking and other physical activities. This made the children in the orphanages walk at the age of 3 to 4 instead of 1 year old or earlier.</span>
7 0
3 years ago
Other questions:
  • Describe the six buyer-readiness stages along with the marketing strategies used at each stage.
    13·1 answer
  • Financial literacy refers to:
    8·1 answer
  • When an incident occurs and relevant agencies or departments are dispatched to the scene, the lead agency assumes Incident Comma
    8·2 answers
  • What is a land as a factor of production
    15·1 answer
  • The following are all advantages of a sole proprietorship except:
    8·1 answer
  • _____ create computer programs by using their knowledge of computer science, math, and other disciplines. Select the choice that
    9·1 answer
  • Cheryl is single, has one child (age six), and files as head of household during 2020. Her salary for the year is $19,500. She q
    6·1 answer
  • When a company guarantees the payment of debt owed by a supplier, customer or another company, the guarantor usually discloses t
    6·1 answer
  • Kyle liked to think he could program anything digital. He created a new video game, and a major industry firm wanted to buy it f
    9·1 answer
  • In a mixed-market economy, the government plays a role and can affect the circular flow of income. Governments participate in th
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!