Question: need help solving! not sure if my answers are correct please ignore what is in the boxes. thank you! Kim is trying to decide whether
need help solving! not sure if my answers are correct please ignore what is in the boxes.
thank you!
Kim is trying to decide whether she can afford a loan she needs in order to go to chiropractic school. Right now Kim is living at home and works in a shoe store, earning a gross income of $1,010 per month. Her employer deducts $150 for taxes from her monthly pay. Kim also pays $183 on several credit card debts each month. The loan she needs for chiropractic school will cost an additional $157 per month. Help Kim make her decision by calculating her debt payments-to-income ratio with and without the college loan. (Remember the 20 percent rule) (Enter your answers as a percent rounded to 2 decimal places.)
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