2. Jason's gross monthly income is $3800 a month and he pays monthlyexpenses of $670 for his mortgage payment, $105 for heating, and$187 in property taxes.a) Determine Jason's Gross Debt Service Ratio (GDSR) if he decides tomake monthly mortgage payments of $900 instead of $670.b) Based on the GDSR can Jason afford to make these payments?Justify your answer.Make sure you have saved your work for each question and submit your filewhen you are ready. Save it as "M1LE4 assign_username.docx"

(a) The formula for Gross debt service ratio is ∑ costs in a monthTotal monthly income*100 The sum…

Answered: Jason's gross monthly income is $3800 a…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Mason Industries purchased a drilling rig for $75,900. Delivery costs totaled $2,817. The useful life is 7 years and the salvage value is $12,952. Prepare a depreciation schedule using the straight-line method. Mason IndustriesDepreciation Schedule—Drilling End of Year Annual Depreciation ($) Accumulated Depreciation ($) Book Value ($) $78,717 (new) 1 $ $ $ 2 $ $ $ 3 $ $ $ 4 $ $ $ 5 $ $ $ 6 $ $ $ 7 $ $ $
Joshua repairs tubs and jacuzzis for $340 per job. His fixed costs are $1,250 per month and variable costs are $40 per job. a. Calculate the contribution margin on each job. b. Calculate the number of orders he needs to get per month to break even.
2 3 1 2) Jacque purchases 10 sheets of plywood at Home Depot. The cost of the plywood is $28.67 per sheet. Jacque has a $50.00 gift card to use. He also has to pay sales tax on the cost of the wood. The sales tax is 6.25 percent. How much will this purchase of wood cost including tax? !
Lynn and Kim own two competing convenience stores. Both of them purchase a similar shipment of chocolate bars for $2,800.00 every month to sell at their stores. Lynn has a rate of markup of 45.00% on cost of her chocolate bars and Kim has a rate of markup of 30.00% on selling price of her chocolate bars. a. Which store sells the shipment of chocolate bars for a cheaper price? b. How much cheaper are the chocolate bars? rount to 2 dermical places.
3. Rhadika earns $600 per week and lives alone in a 1-bedroom apartment. Her monthly rent is $550. What percent of her month's income is spent on rent? Assume a 4-pay month.
A student is planning for the cost of their education. After accounting for scholarships, he plans to have student loans totaling P=$70,000. He looks at his loan repayment options to decide which will require him to pay back the least amount. Loan A: 10-year loan, with an annual interest rate of 8.5%. Loan B: 15-year loan, with an annual interest rate of 6.4%. Loan C: 30-year loan, with an annual interest rate of 5.3%. Each loan is paid back monthly. On which loan will he pay the least interest?
Find the maximum payment each situation can afford for a housing. a. Enrique makes $109,992 per year b. Julie makes $4589 a month c. Dean makes $1087 weekly
2. Jack sold a t-shirt for $100, he made a profit percentage of 25%. Calculate: a. The cost price of the t-shirt b. The amount of profit Jack made. 3. James is a friend of the grocery store owner, the owner allocates to James' name, a special discount of 2% whenever he shops at the store. If James' total $156.20 calculate whether or not James' total would be under $150.00 after the discount. 4. Jake buys a shirt marked at $80. He receives a 10 per cent discount. How much does he pay for the shirt? Section 4 (Measurement) 1. Calculate the are and perimeter of a square with sides 8 cm. 2. Calculate volume of a cube with side 15 m.
Marc Batchelor, a self-employed sales consultant, has estimated annual earnings of $305,000 this year. His social security tax rate is 12.4% up to the wage base, Medicare is 2.9%, and his federal income tax rate is 24%. How much estimated tax (in $) must Marc send to the IRS each quarter?

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