You make the following monthly payments. Your total net income (net of taxes) is $3,000. Calculate your total debt-to-income ratio.The minimum payment on the credit card is $30. Assume rent as debt.EntertainmentRent$600Car payment$253Credit card payment $100Utilities$200Groceries$25036%.42%.34%.39%.Health insuranceTaxesGasolineRetirement savingsStudent loan payment$300$500$450$185$150$300

Rent$600Car Payment$253Credit card payment$30Student loan payment$300Net income$3,000Required:Debt…

Answered: You make the following monthly…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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You make the following monthly payments. Your total net income (net of taxes) is $4,000. Calculate your savings ratio. Rent $600 Entertainment $300 Car payment $253 $500 Credit card payment $100 $450 Utilities $200 Gasoline $185 Groceries $250 Retirement savings $150 Student loan payment $300 O 17.80%. O 16.18%. O 29.05%. O 29.48%. You spend Save for Later Health insurance Taxes Submit An:
Suppose that your monthly net income is $2,480. Your monthly debt payments include your student loan payment and a gas credit card. They total $496. What is your debt payments-to-income ratio? (Enter your answer as a percent rounded to the nearest whole number.)
Hypothetically, Suppose that a monthly net income is $3,340. Your monthly debt payments include your student loan payment and a gas credit card. They total $1,002. What is your debt payments-to-income ratio? I do not know how to enter the answer as a percent rounded to the nearest whole number. please help
Calculate the amount financed, the finance charge, and the monthly payments (in $) for the add-on interest loan. (Round your answers to the nearest cent.) Purchase(Cash)Price DownPayment AmountFinanced Add-onInterest Number ofPayments FinanceCharge MonthlyPayment $711 10% $ 6% 12 $ $
1. Jim has a credit card with a credit limit of $9000.00. For each of the following monthly balance, calculate the minimum monthly payment. Minimum Balance Work/Reasoning Payment $8.50 $40.00 $550.00 $9120.00 $7862.95
And the total interest someone will pay for the following scenarios
You charged $3,172 on a credit card. If you pay the minimum payment per month of $46.69, you will pay it off after making 96 payments. How much total interest will you pay?
Calculate the amount financed, the finance charge, and the monthly payments (in $) for the add-on interest loan. (Round your answers to the nearest cent.) Purchase Monthly Payment Down Amount Add-on Number of Finance (Cash) Payment Financed Interest Payments Charge Price 12-% $2,000 15% 2$ 1700 30 $ $ 2
Calculate the amount financed, the finance charge, and the monthly payments (in $) for the add-on interest loan. (Round your answers to the nearest cent.) Purchase (Cash) Price Down Payment Amount Financed Add-on Interest Number of Payments Finance Charge $50,500 25% 37875 10.8% 60 $ Monthly Payment
You have a credit card with an APR (Annual Percentage Rate) of 12%. You begin with a balance of $200, in response to which you make a payment of $75. The first month you make charges amounting to $50. You make a payment of $75 to reduce the new balance, and the second month you charge $60. Previous balances, payments and purchases for the months 1 and 2 are given in the table below: Month Previous Balance Payment Purchases Finance Charge New Balance 1 $200 $75 $50 a:$ b:$ 2 $ $75 $60 c:$ d:$
Find the following. (Round your answers to the nearest cent.) FinanceCharge Number ofPayments Frequency Amount Number ofPayments Left $9.10 12 Monthly $15 5 (b) the amount needed to pay off the loan
Calculate the table factor, the finance charge, and the monthly payment (in $) for the loan by using the APR table. (Round your answers to the nearest cent.) AmountFinanced Number ofPayments APR TableFactor FinanceCharge MonthlyPayment $700 18 16% $ $ $

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