Using the standard 28/36 ratio, determine the maximum allowable recurring debt for someone with a

Mathematics

1 answer:

Mumz [18]1 year ago

4 0

The maximum allowable recurring debt for someone with a monthly income of $54.875 is $4.39.

<h3 /><h3>Maximum allowable recurring debt:</h3>

Using this formula

Maximum allowable recurring debt=Ratio×Monthly income

Where:

Ratio=28/36

Monthly income=$54.875

Let plug in the formula

Maximum allowable recurring debt=(36%×$54.875)-(28%×$54.875)

Maximum allowable recurring debt=$19.755-$15.365

Maximum allowable recurring debt=$4.39

Inconclusion the maximum allowable recurring debt for someone with a monthly income of $54.875 is $4.39.

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Answer:

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Step-by-step explanation:

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Now we solve for x:

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8 0

2 years ago

find the probability of being delt 5 clubs and 3 cards with one of each remaining suit in 8 card poker

kumpel [21]

Answer: 0.003757(approx).

Step-by-step explanation:

Total number of combinations of selecting r things out of n things is given by:-

$^nC_r=\dfrac{n!}{r!(n-r)!}$

Total cards in a deck = 52

Total number of ways of choosing 8 cards out of 52 = $^{52}C_8$

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