Calculate your own debt safety ratio. What does it tell you about your current credit situation and your debt capacity? Does this information indicate a need to make any changes in your credit use patterns? If so, what steps should you take?
Answer to relevant QuestionsDebora Acocella has an overdraft protection line. Assume that her October 2015 statement showed a latest (new) balance of $862. If the line had a minimum monthly payment requirement of 5 percent of the latest balance ...Use Worksheet 6.1. Rebecca Collins is evaluating her debt safety ratio. Her monthly take-home pay is $3,320. Each month, she pays $380 for an auto loan, $120 on a personal line of credit, $60 on a department store charge ...1. In addition to opening checking and savings accounts, what else might Nancy do to begin establishing credit with a bank?2. Although Nancy is unlikely to be able to obtain a major bank credit card for at least a year, how ...Discuss the role in consumer lending of(a) Credit unions(b) Savings and loan associations.Point out any similarities or differences in their lending activities. How do they compare with commercial banks?Bridget Morrow is a sophomore at State College and is running out of money. Wanting to continue her education, Bridget is considering a student loan. Explain her options. How can she minimize her borrowing costs and maximize ...
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