1. Suppose you borrow $350 for one year and pay a finance charge of $23. If you...
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1. Suppose you borrow $350 for one year and pay a finance charge of $23. If you repay this loan all at once after one year, what is your average balance?
2. Timothy Carter has net monthly income of $4,100. He has a monthly auto loan payment of $425, a student loan payment of $195, a mortgage payment of $1,300, and a credit card minimum payment of $60. What is his debt-payments-to-income ratio?(Round your answer to 1 decimal)
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