Evaluating debt burden. Kevin Mills has a monthly take-home pay of $3,865; he makes payments of $410

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Evaluating debt burden. Kevin Mills has a monthly take-home pay of $3,865; he makes payments of $410 a month on his outstanding consumer credit (excluding the mortgage on his home). How would you characterize Kevin’s debt burden? What if his take-home pay was $850 a month and he had monthly credit payments of $150?

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Personal Financial Planning

ISBN: 9780357438480

15th Edition

Authors: Randy Billingsley, Lawrence J. Gitman, Michael D. Joehnk

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