Emily earns $6,445 per month. She pays $725 in rent; she pays $210 each month for her car loan; she pays $190 each month for her student loans. What would her maximum credit card payment be so that her back-end DTI ratio would not exceed 41%

Emily earns $6,445 per month. She pays $725 in rent; she pays $210 each month for her car loan; she pays $190 each month for her student loans. What would her maximum credit card payment be so that her back-end DTI ratio would not exceed 41%

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Similar questions

The purchase price of a 5 carat diamond ring in 2005 was $54,000. The diamond grows in value at a rate of 3.45% per year. Determine the amount of time it would take for the diamond to be worth $68,486
Riley invested RM150,000, part at an interest rate of 5% annually, and the remainder at 3% annually. The total interest at the end of 1 year was equivalent to an annual 3.5% rate on the entire RM150,000. How much was invested at an annual interest rate of 39%? A. RM37,500 B. RM75,000 C. RM90,000 D. RM112,500
A friend has an IRA with an APR of 3%. She started the IRA at age 30 and deposits $125 per month. How much will her IRA contain when she retires at age 65? Compare that amount to the total deposits made over the time period? Compare the IRA’s value to her total deposits over this time period by finding what percent of her IRA value comes from her actual deposits.
You put $350 per month in an investment plan that pays an APR of 4.5%. How much money will you have after 21 years? Compare this amount to the total deposits made over the time period.
Jacob is preparing a monthly budget. His net pay is $1,350 every two weeks, and his monthly rent is $936. What percentage of his monthly budget should Jacob allocate for rent? 35% 38% 32% 29%
You bought some stock, and then the stock price went down by 16.48% from the purchase price. By what percentage would the price have to increase for the investment to be back to the original value?
At age 24, Brandie decides to put $150 a month into an account that has a 6% APR until she retires at the age of 67. How much money will she have put into the account when she retires?
Karen works in a retail computer store. She receives a weekly base salary of $300 plus a commission of 3% of sales exceeding her quota of $20,000 per week.What are her sales for a week in which she earns $630.38? (Round your answer to the nearest cent. Round your intermediate calculations to 2 decimal places.) Total sales =
what is the rate of return when 25 shares of stock a, purchased for 30/share, are sold for $825? The commission on the sale is $6.
You always enjoyed a Starbucks Iced Oat Latte every day (5 days a week) on your way to work at a cost of $5.70 including tax. At lunch you'd pick up a sandwich and coffee from the bakery at your office building for an all-in cost of $12.50. You were tired after your long commute so you would order out three nights a week at a cost of about $20 per meal. You have been trying to save for a trip but never had any extra cash to invest. Then COVID hit and you had to work from home. Now that you are back at your office, you are bringing your own coffee, packing your own lunch, and only eating out occasionally. You estimate you are spending only about 10% weekly of what you were spending pre- covid and saving the rest. If you invest your weekly savings into a mutual fund with an annual rate of return (APR) of 6.5%, compounded weekly, a) How much will you have accumulated at the end of two years to fund your trip? b) How much would you have to deposit in one lump sum today to have the same…
brooke's credit card has an annual interest rate of 21% on her unpaid balance, which averages $900. Approximate Brooke's monthly payments, if she wants to pay her card off in a year. Assume she doesn't use her card again during that time.
Akomiah deposits GH¢1,000 into his bank account. The bank credits interest at nominal annual rate j,convertible semi annually, for the first seven years and nominal annual rate 2j,convertible quarterly, for all years thereafter. The accumulated value of the account at the end of 5years is 2x. If the accumulated value of the account at the end of 10.5years is GH¢1,980,fund the value of x.