Question: THIS IS NOT THE ANSWER...... BELOW.... SECOND TIME TRYING TO GET THE RIGHT ANSWER Kim is trying to decide whether she can afford a loan

THIS IS NOT THE ANSWER...... BELOW.... SECOND TIME TRYING TO GET THETHIS IS NOT THE ANSWER...... BELOW.... SECOND TIME TRYING TO GET THE RIGHT ANSWER

RIGHT ANSWER Kim is trying to decide whether she can afford a

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 part-time in a shoe store, earning a gross income of $870 per month. Her employer deducts $206 for taxes from her monthly pay. Kim also pays $133 on several credit card debts each month. The loan she needs for chiropractic school will cost an additional \$105 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.) Note: Enter your answers as a percent rounded to 2 decimal places. Without Chiropractic loan, Total debt = Credit card loan =$133 Debt to income ratio =( Total debts / Net Income )100 =(664133)100=20.03% With Chiropractic loan, Total debt = credit card loan + chiropractic loan =133+105=$238 Debt to income ratio =( Total debts / Net Income )100 =(664238)100=35.84% 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 part-time in a shoe store, earning a gross income of $870 per month. Her employer deducts $206 for taxes from her monthly pay. Kim also pays $133 on several credit card debts each month. The loan she needs for chiropractic school will cost an additional \$105 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.) Note: Enter your answers as a percent rounded to 2 decimal places. Without Chiropractic loan, Total debt = Credit card loan =$133 Debt to income ratio =( Total debts / Net Income )100 =(664133)100=20.03% With Chiropractic loan, Total debt = credit card loan + chiropractic loan =133+105=$238 Debt to income ratio =( Total debts / Net Income )100 =(664238)100=35.84%

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