Personal Finance: Turning Money into Wealth (7th Edition) (Prentice Hall Series in Finance)
Personal Finance: Turning Money into Wealth (7th Edition) (Prentice Hall Series in Finance)
7th Edition
ISBN: 9780133856439
Author: Arthur J. Keown
Publisher: PEARSON
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Chapter 7, Problem 10PA
Summary Introduction

To determine:

Debt limit ratio and the size of payment for the car purchase.

Introduction:

Debt limit ratio shows the maximum limit of debt to the maximum of income available for living expense. The limit of debt is set by individual himself, so he can increase or decrease the limit whenever he wishes.

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