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Harrizon [31]
3 years ago
15

Madeline Rollins is trying to decide whether she can afford a loan she needs in order to go to chiropractic school. Right now, M

adeline is living at home and works in a shoe store, earning a gross income of $1,260 per month. Her employer deducts a total of $320 for taxes from her monthly pay. Madeline also pays $190 on several credit card debts each month. The loan she needs for chiropractic school will cost an additional $290 per month. Calculate her debt payments-to-income ratio with and without the college loan
Business
1 answer:
Alex3 years ago
4 0

Answer:

Without loan:

Debt = Credit card debts = 190

Without loan:

Debt = Loan payments+credit card debt =190+290 = 480

Explanation:

Gross Income = $1260

Income after tax = 1260-290 = 970

1st case(without loan)

Debt = Credit card debts = 190

Debt/income = 190/970 =0.1958 = 19.58%

2nd case (with loan)

Debt = Loan payments+credit card debt =190+290 = 480

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4 0
4 years ago
Ariel wants to compare the salaries for positions she was offered at two companies. What should she consider in this process?
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Answer:

  • <em>She should research the cost of living of different locations to compare against the offered salaries.  </em>
  • <em>She should research the benefits included in each offer. </em>
  • <em>She should research the average salary of similar positions to see if the offers are fair. </em>

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  • Third the average industry pay level would also help Ariel know whether to accept any of the offers or not.

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4 years ago
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