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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Assume you buy a washing machine for $849. You put is on your credit card that charges 23.75% APR, compounded daily. a) What is the APY? (ia)?
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:
Subject: accounting
Suppose you want to purchase a $279,000 home, and you have the required $62,000 down payment in savings. Principal Interest Rate Terms (Yrs) Payments Total Total Payments Interest Of Loan Of Loan $217,000 4.000% 20 Complete the table below. Principal Interest Rate Terms (Yrs) Payments Total Pymts Total Interest $217,000 4.000% 20
K Suppose that on January 1 you have a balance of $2800 on a credit card whose APR is 17%, which you want to pay off in 1 year. Assume that you make no additional charges to the card after January 1, a Calculate your monthly payments. b. When the card is paid off, how much will you have paid since January 1? c What percentage of your total payment from part (b) is interest? a. The monthly payment is $ (Do not round until the final answer. Then round to the nearest cent as needed)
You take out a consumer loan at your credit union for new insulated windows for your house. The total installed cost is $8,900 of which you pay 16% down. The balance is to be paid in 48 equal monthly payments with a finance charge equal to 6.8% add-on interest on the outstanding balance. Find the monthly payment. OA S255,14 O B. S171.39 OC. 5198.11 O D. $211.27 QUESTION 7 Find the minimum cash investment for a FHA loan on a home in a low closing cost state costing $107,450 with closing costs of $650. OA $2960,18 OB. 53712.32 ০s3223.50 OD.53175.07
A savings and loan charges 2.225 points for a home buyer to obtain a loan of $255,000. Calculate the discount points.
You have just been hired as a loan officer at a national bank. Your first assignment is to calculate the amount of the periodic payment (in $) required to amortize (pay off) the following loan being considered by the bank (use Table 12-2). (Round your answer to the nearest cent.) Payment Period Nominal Rate (%) Loan Term of Present Value Payment Loan (years) (Amount of Loan) every month 6 $40,000 4 %24
Calculate the DTI ratio (in percent) for a borrower who has a gross monthly income of $4,875 and has a minimum credit car bill of $125, a car lease payment of $276.78 and a student loan payment of $216, and who is applying for a loan with a monthly payment of $2,021.79. (Round your answer to the nearest tenth of a percent.)
Please see attached picture
6.-In a furniture store, a dining room set can be purchased for $25,946.41 in cash or through monthly payments of $513.27. If the interest offered by the furniture store is 9.4% per semester compounded monthly, how many monthly payments must be made to cover the debt when buying on credit? options: 90 101 120 110

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