Question: If your car payment is $375 per month, your minimum credit card payment is $500, your mortgage is $2,400 and your after-tax monthly income is

If your car payment is $375 per month, your minimum credit card payment is $500, your mortgage is $2,400 and your after-tax monthly income is $5,000 per month, what is your debt payment ratio?63.2%85.5%78.9%60.4%

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

If your car payment is $553 per month, your minimum credit card payment is $1300, your mortgage is $2700 per month, and your after-tax monthly income is $5800, what is your debt payment ratio? Group...

If your car payment is $1250 per month, your minimum credit card payment is $1050 per month, your mortgage is $4400 per month, and your after tax monthly income is $6400, what is your debt payment...

If your car payment is $ 1 2 5 0 per month, your minimum credit card payment is $ 1 0 5 0 per month, your mortgage is $ 4 4 0 0 per month, and your after tax monthly income is $ 6 4 0 0 , what is...

5. Suppose a single man has $120,000 in student loan debt, payable on the 20 year plan at 5% per year with monthly payments of $791.95. He also makes a car payment of $350 per month and total credit...

Question 3: Suppose a single man has $120.000 in student loan debt. payable on the 20 year plan at 5% per year with monthly payments of $791.95. He also makes a car payment of $310 per month and...

Blue Bird reports an annual income of $84,000. Blue Bird owes $120,000 in student loan debt payable on the 20-year plan at 5% per year with monthly payments of $791.95. Blue Bird makes a car payment...

MAT 110 Personal Finance Exploration Part I: Bill and Melinda are a young couple who have just finished college.They have a combined monthly net income of $3,500. Their fixed monthly expenses consist...

Share Comme ) . Heading 2 1 Normal Find Go Replace Select Subtitle Title 1 No Spac... Subtle Em... Dictate Sensitivity Styles Editing Voice Sensitivity Mini-Case D: (2 marks) Macy has a credit score...

Macy has a credit score of 700. She is looking to make an offer on a condo for $475,000 in two weeks on March 12, 2021. She cannot afford a conventional mortgage and has savings of 10% to use as a...

PLEASE ANSWER ALL QUESTIONS!! Mini-Case D: (2 marks) Macy has a credit score of 700. She is looking to make an offer on a condo for $475,000 in two weeks on March 12, 2021. She cannot afford a...

Pre-employment testing can be an effective tool in the selection of qualified candidates. Testing can include, but is not limited to the following areas: personality, talent assessment, job task...

Consider the set of complex points S = {2+ 3i, -3- 2i). Compute the image of S under the complex mapping w = z^2 and represent the mapping graphically

Exercises 11 through 20 provide a statement, its truth value in parentheses, and a new statement. Determine how the new statement was derived from the given statement and supply the truth value of...

What is SQL DROP TABLE Statement??