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Yanka [14]
2 years ago
7

If Ralph has $2,900 in stable gross monthly income, what is the maximum total debt allowed for Ralph by conventional lenders

Business
1 answer:
dezoksy [38]2 years ago
8 0

Based on Raph's stable gross monthly income, the maximum total debt allowed per month is<u> $1,044</u>

Most conventional lenders prefer to lend to a person whose debt to income ratio is 36% and below.

Ralph's maximum debt allowed is therefore:

<em>= Debt to income ratio x Stable gross income </em>

= 36% x 2,900

= $1,044

In conclusion, Ralph's maximum debt is $1,044

Find out more about debt to income ratio at brainly.com/question/24814852.

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Independent business owners who approach attorneys for resolving their business-related disputes are referred to as counsel.
Stels [109]

If the question is trying to ask whether it is true or false, the answer would be true because the statement is correct. People who approach attorneys into resolving their case could refer this as counsel because the counsel are those people of which people approach when having to ask to resolve their issues through the law in which it is related to the statement above.

4 0
3 years ago
Kimberly sold equipment that she uses in her business for $50,000. Kimberly bought the equipment two years ago for $60,000 and h
PSYCHO15rus [73]

Answer:

$20,000 ordinary gain

Explanation:

Data provided in the question:

Cash proceeds from Selling of the equipment = $50,000

Purchasing cost of the equipment = $60,000

Depreciation expense = $30,000

Now,

The book value of the equipment

= Purchasing cost of the equipment - Depreciation expense

= $60,000 - $30,000

= $30,000

Since,

the amount of proceeds from sales is higher than the book value of the equipment

Therefore a gain will be recognized

The amount of Gain = proceeds from Selling - book value

= $50,000 - $30,000

= $20,000

Hence,

$20,000 ordinary gain

7 0
4 years ago
Management set a production goal of 500 shippable parts per​ eight-hour shift. The scrap rate had been running at nine percent.
lorasvet [3.4K]

Answer: a. evaluate available resource

Explanation:

Management set a production goal of 500 shippable parts per​ eight-hour shift. The scrap rate had been running at nine percent. The maximum speed of the machines was 60 parts per​ hour or one per minute. Which one of the​ goal-setting steps were​ missed?

a. evaluate available resource this is the key aspect of production without which production can not kick start or hamper its speed.

3 0
3 years ago
Action learning uses challenging, structured outdoor activities, which include difficult sports.A. TrueB. false
mixas84 [53]

Answer: The answer is True.

Explanation: Action learning uses challenging, structured outdoor activities, which may include difficult sports such as dog-sledding or mountain climbing. ... Employees are most likely to learn when the training is linked to their current job experiences and tasks.

6 0
3 years ago
Find the APR, or stated rate, in each of the following cases (Do not round intermediate calculations. Enter your answers as a pe
Gala2k [10]

Answer:

EAR = (1+APR/m)^m - 1 where m=compounding periods  

1.  0.116 = (1+APR/2)^2 - 1

(1+0.116) = (1+APR/2)^2

(1.116)^(1/2) = 1+APR/2

APR = [(1.107)^(1/2) - 1]*2

APR = [1.05214067501 - 1]*2

APR = 0.05214067501 * 2

APR = 0.10428135002

APR = 10.43%

2. 0.116 = (1+APR/12)^12-1

APR = [(1+0.116)^(1/12)-1]*12

APR = [1.116^(1/12) - 1] * 12

APR = [1.00918785692 - 1] * 12

APR = 0.00918785692 * 12

APR = 0.11025428304

APR = 11.05%

3. 0.093  = (1+APR/52)^52 - 1

APR = [(1+0.093)^(1/52) - 1] * 52

APR = [1.093^(1/52) - 1] * 52

APR = [1.0017115825  - 1] * 52

APR = 0.0017115825 * 52

APR = 0.08900229

APR = 8.90%

6 0
3 years ago
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