Joe bob wants to buy a car and will need to take out a loan in order to make the purchase. His current monthly income is 3,500 per month. His mortgage payment is 900 per month, and his student loan payment is 350 per month  according to the affordability formulas given can he afford to take out another loan?  when should he follow the affordability formulas? In what case should he not?  how could taking out the car loan impact his other priorities?  what is the affordability formula I need to use as well

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A: Affordability ratio indicates how much are total monthly expenses against monthly income and how…

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A: Loan amortization refers to a schedule which is prepared to shows the periodic loan payments, amount…

Q: Suppose a man took out a 30-year loan with an annual rate of 7% to put an addition on his house. His…

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Q: Sara Beth wants to purchase a used car in excellent condition. She has decided on a car with low…

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Q: minimum price Hank would need to receive for his car

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Q: Your parents are buying a house for $187,500. They have a good credit rating, are making a 20% down…

A:

Q: Theo just financed a new car through his credit union.  His car loan requires payments of $420 a…

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Q: 10. Tammy purchased a vehicle for $35,000 two years ago using a 5 percent, 5-year loan. She has…

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Q: When Should Michael Pay Housing Costs? On April 1 of next year, Michael is purchasing a $225,000…

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Q: Charlie needs a $275,000 mortgage and he'd like to pay it off in 30 years. He is considering two…

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A:

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Cash and Liquid Asset Management

Cash management is the process of controlling cash inflow & cash outflow, managing the cashflows inside the business, and utilizing the cash for business operation at any point in time. A business has to maintain a certain level of cash to meet various financial obligations. Cash management is essential because businesses must utilize the cash to generate maximum profit. Cash management also ensures to maintain maximum liquidity in the business.