Axel lives in Virginia and makes $54,000 a year. If the median annual income in Virginia is $61,233 and the median annual income

Question

Karolina [17]

2 years ago

11

Axel lives in Virginia and makes $54,000 a year. If the median annual income in Virginia is $61,233 and the median annual income

in the United States as a whole is $50,233, is Axel likely to qualify for Chapter 7 bankruptcy?

Mathematics

2 answers:

Natalka [10] · Answer 1 · 2022-04-30T05:55:53+03:00

Answer:

The answer is Yes Axel will qualify for chapter 7 bankruptcy.

Step-by-step explanation:

To qualify for a Chapter 7 bankruptcy, the debtor must earn less than the state median income on a monthly basis. Here it is given that Axel lives in Virginia and makes $54,000 a year. The median annual income in Virginia is $61,233. So, Axel is earning less than the median income. Hence, he will qualify for chapter 7 bankruptcy.

Dmitriy789 [7] · Answer 2 · 2022-04-30T08:04:11+03:00

Dmitriy789 [7]2 years ago

3 0

Answer:

yes, axel is likely to qualify, because his yearly income is below the median annual income of virginia

Step-by-step explanation: