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3 years ago

A person's debt-to-income ratio describes.

Business

2 answers:

Mamont248 [21]3 years ago

7 0

Answer:

D. how much the person has borrowed compared to how much he or she earns

Explanation:

A person's debt-to-income ratio, abbreviated as DTI, is a measure of a person's monthly debt obligation against their monthly gross income. It shows the fraction or percentage of gross income that is committed to debt repayments. Lenders use the debt-to-income ratio to assess a borrower's ability to repay future loans.

Calculating the debt-to-income ratio requires one to add up all their existing loan repayments and divide that figure with their gross income. Lenders insist on a ration that does not exceed 36% as per the 28/36 rule.

alina1380 [7]3 years ago

7 0

Answer: D; how much the person has borrowed compared to how much he or she earns

Explanation: A pex

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Answer:

A. It is the income foregone by not using a resource in an alternative way.

Explanation:

Opportunity cost is the income foregone by not using a resource in an alternative way.

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It also refers to the value or benefits of something that must be given up in order to acquire another thing.

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4 years ago

Nineteen-year-old Devon plans to get a credit card, but his parents say it is not a good idea. What fiscally responsible argumen

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Nineteen-year-old Devon can tell to his parents on giving the disapproval of credit card that He needs a credit card if he wants to make any online purchases.

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Therefore, option C is correct.

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2 years ago

Marin Corp. factors $441,000 of accounts receivable with Headland Finance Corporation on a without recourse basis on July 1, 202

Kaylis [27]

Answer:

Debit Cash for $406,602; Debit Finance charge for $7,938; Debit Loss on sale of receivables for 26,460; and Credit Accounts receivable for $441,000.

Explanation:

Before preparing the journal entry, the following calculations are made firs:

Finance charge = Percentage of finance charge * Accounts receivable = 1.80% * $441,000 = $7,938

Loss on sale of receivables = Percentage retained * Accounts receivable = 6% * $441,000 = $26,460

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The journal entry will now look as follows:

Date Details Debit ($) Credit ($)

01 Jul '20 Cash 406,602

Finance charge 7,938

Loss on sale of receivables 26,460

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(To record factoring of accounts receivable.)

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3 years ago

Which type of savings institution is owned and operated by the same people who have accounts in it

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A credit union is owned and operated by the people who have accounts in it. In a traditional bank, the bank is run by a president and a board of higher people. In a credit union, all members of the union own a stake of the company and the board is made up of members of the credit union.

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3 years ago

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Explanation:

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4 years ago