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
ruslelena [56]
3 years ago
6

Rimi currently earns $3300 per month. She has the following monthly debt payment expenses: $80 for credit cards, $130 for studen

t loans, and a $215 car payment. She is looking to buy a house. The monthly mortgage, including principal, insurance, taxes, and insurance is $1221. Does Rimi pass the FHA total fixed payments to income ratio requirement
Business
1 answer:
vaieri [72.5K]3 years ago
3 0

Answer:

No, her ratio is greater than 37%

Explanation:

Given:

Monthly income = $3,300

Credit card expenses = $80

Student loan expenses = $130

Car payment = $215

All insurances = $1,221

Computation:

Total debt to income ratio = Total debt / Total income

Total debt to income ratio =  (80 + 130 + 215 + 1221) / 3300

Total debt to income ratio = 49.87%  

Housing payments to income ratio = All insurances / Monthly income

Housing payments to income ratio = (1221) / 3300

Housing payments to income ratio = 37%  

No, her ratio is greater than 37%

You might be interested in
A flower shop makes a large sale for $1,500 on June 30. The customer is sent a statement on July 5 and a check is received on Ju
Vsevolod [243]

Answer:

June 30

Explanation:

As per the revenue recognition principle, the revenue is recognized when it is earned or realized that means service is performed but the payment is not made at the time of providing the service.

It is not get impacted when will be the cash received.

So, in the given case, the large sale is made on June 30 and on June 30 the revenue would be recognized.

3 0
3 years ago
What two companies rate and publish bonds? a. Poor Richard s and Moody s c. Sampson s and Monroe s b. Standard and Poor s and Mo
Andrej [43]
I think the correct answer from the choices listed above is option B. The two companies that rates and publish bonds are Moody's and Standard's and Poor. These companies had <span>maintained high level of credibility and their ratings are highly respected worldwide. Hope this answers the question.</span>
5 0
3 years ago
Read 2 more answers
What are dividends?
sergeinik [125]
C. Distribution of a small percentage of profits to shareholders.
4 0
3 years ago
Last year, Natalie submitted her idea for a redesigned bicycle seat on the Fast Flyers Bikes website. She learned this week that
Tems11 [23]

Answer:

microblogging

Explanation:

Natalie has submitted her idea in a website. Her idea was supported by greater number of people. Natalie did not expected that her idea would gain such significance and will be voted as winning.

4 0
2 years ago
What functions would it be most important for a project management software program to have?
Mariana [72]

Answer:

Explanation:

Question

Rocks around mid-oean risend automatic updates to the project teamhow earthquakes happen  

create calendars and schedules, manage project budgets, an

create calendars and schedules, manage project budgets, and enable file sharing

create images for storyboarding, collect project images, and enable file sharing

create to-do lists, manage schedules, and send automatic updates to the project teamd enable file sharing

create images for storyboarding, collect project images, and enable file sharing

create to-do lists, manage schedules, and send automatic updates to the project team

C. changes in the earth's crust

create calendars and schedules, manage project budgets, and enable file sharing

create images for storyboarding, collect project images, and enable file sharing

create to-do lists, manage schedules, and send automatic updates to the project team

5 0
3 years ago
Other questions:
  • When Panasonic considers how to price a new product, they determine what price they think their customers will pay, and then ide
    13·1 answer
  • Will give brainliest for only one question please help
    9·1 answer
  • A candy manufacturer is interested in the distribution of colors in each of its packages of candy sold. The manufacturer randoml
    5·1 answer
  • Every year, management and labor renegotiate a new employment contract by sending their proposals to an arbitrator, who chooses
    5·1 answer
  • Economic models:
    14·1 answer
  • Which economic term is considered a resource?
    7·1 answer
  • One of your new clients explains that she prefers investments paying income with a fixed rate of return, but also allows for the
    5·1 answer
  • Clampett, Incorporated, has been an S corporation since its inception. On July 15, 2021, Clampett, Incorporated, distributed $42
    11·1 answer
  • ____ anxiety is the feeling that unless an organization makes a change, it is going to be out of business or fail to achieve som
    10·1 answer
  • Question 1 of 20
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!