Evaluating debt burden. Ted Phillips has a monthly take-home pay of $1,685; he makes payments of...

  

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Evaluating debt burden. Ted Phillips has a monthly take-home pay of $1,685; he makes payments of $410 a month on his outstanding consumer credit (excluding the mortgage on his home). How would you characterize Isaac's debt burden? What if his take-home pay were $850 a month and he had mnonthly credit payments of $150? Question 2 Calculating the APR on simple interest and discount loans. Find the finance charges on a 6.5 percent, 18-month. single-payment loan when interest is computed using the simple interest method. Find the finance charges on the same loan when interest is computed using the discount method. Determine the APR in each case Evaluating debt burden. Ted Phillips has a monthly take-home pay of $1,685; he makes payments of $410 a month on his outstanding consumer credit (excluding the mortgage on his home). How would you characterize Isaac's debt burden? What if his take-home pay were $850 a month and he had mnonthly credit payments of $150? Question 2 Calculating the APR on simple interest and discount loans. Find the finance charges on a 6.5 percent, 18-month. single-payment loan when interest is computed using the simple interest method. Find the finance charges on the same loan when interest is computed using the discount method. Determine the APR in each case

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Answer1 The monthtomonth take domestic pay of Ted is 1685 and he makes monthtomonth compensation of client credit score of 410 Calculate the debt prot... View the full answer