Question: Please help! Madeline Rollins is trying to decide whether she can afford a loan she needs in order to go to chiropractic school. Right now,

Please help! Please help! Madeline Rollins is trying to decide whether she can afford

Madeline Rollins is trying to decide whether she can afford a loan she needs in order to go to chiropractic school. Right now, Madeline is living at home and works in a shoe store, earning a gross income of $960 per month. Her employer deducts a total of $170 for taxes from her monthly pay. Madeline also pays $115 on several credit card debts each month. The loan she needs for chiropractic school will cost an additional $140 per month. Calculate 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.) With college loan Without college loan Debt Payments- to-Income Ratio % % Can she currently afford the school loan? Yes No

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