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- 1) Calculate: Rimi currently earns $2,500 per month. She has the following monthly debt payment expenses: $75 for credit cards, $125 for student loans, and a $235 car payment. She is looking to buy a house. The monthly mortgage, including principal, insurance, and taxes, is $900. Does Rimi meet the FHA housing payments-to-income ratio guideline? O O O O Yes, because her ratio is less than 31%. No, because her ratio is greater than 31%. Yes, because her ratio is less than 43%. No, because her ratio is greater than 43%.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 $170 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 RatioClaire needs to borrow $5000 to pay for NHL season tickets for her family. She can borrow from the credit union (36 monthly payments of $151.54 each). Find the APR for each loan. The APR for the finance company loan is? The APR for the credit union is?
- 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 $1,140 per month. Her employer deducts a total of $260 for taxes from her monthly pay. Madeline also pays $160 on several credit card debts each month. The loan she needs for chiropractic school will cost an additional $260 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.) Debt Payments-to-Income Ratio With college loan % Without college loan %. Pls show steps complete.Rhonda Brennan found her first job after graduating from college through the classifieds of the Miami Herald. She was delighted when the offer came through at $18.50 per hour. She completed her W-4 stating that she is married with a child and claims an allowance of 3. Her company will pay her biweekly for 80 hours (assume a tax rate of 6.2% on $128,400 for Social Security and 1.45% for Medicare).Calculate her take-home pay for her first check. (Use Table 9.1 and Table 9.2) (Round your answer to the nearest cent.)Kaleb Makes a salary of $5,000 per month and has no other loans. What maximum amount of monthly home paymment ( mortgage, insurance, and property tax) can he realistically afford? 1. $750 2. $1,500 3. $2,500 4. $2,750 5. $4,250
- Steven is thinking about buying a duplex. His monthly expenses will be $888 for the mortgage, $480 for taxes, and $420 for insurance period he also needs to pay a yearly association fee of $888.00. If he can rent out 1/2 of the unit for $1535 per month, how much will he make or lose per month? Loss of $60. Loss of $1120. Loss of $327.Rhonda Brennan found her first job after graduating from college through the classifieds of the Miami Herald. She was delighted wher the offer came through at $16.20 per hour. She completed her W-4 stating that she is married with a child and claims an allowance of 3. Her company will pay her biweekly for 80 hours (assume a tax rate of 6.2% on $128,400 for Social Security and 1.45% for Medicare). Calculate her take-home pay for her first check. (Use Table 9.1 and Table 9.2) (Round your answer to the nearest cent.) Net payTo help Janette cover her college expense, parents provide Janette with a monthly allowance of $340. Besides, Janette earns $600 per month from the part-time job. Janette has to pay $200 in rent expense and $ 75 per month for her car insurance. Janette plans to spend monthly $80 on clothes, $50 for personal care, and $100 for entertainment. Janette also estimates her monthly eating out expense at $140, and she expects that $100 will be enough to cover all her other spending. Given that Janette follows the above income/spending schedule, how much can she put aside within eight months? Assume Janette puts the amount she put aside within eight months on the account that earns 4.75% per year, compounded annually. What would be the balance of this account in fiveyears? Round your answers to the nearest dollar.
- Accounting Henry makes $13.67/hr. at his job and he normally works 43 hours per week. His expenses each month are $940/month for rent, $529.26/month for utilities, and $410/month for food and clothing. He wants to buy a car, but the payments are $382.74/month. If Henry pays 15% of his income to taxes and insurance, can he afford this new car? Give your answer as the amount of money left after the car payment is added or give a negative number of the money he earns is not enough. Assume a month is 4 weeks. Round to the nearest cent.Shay Manning rents an apartment in Chicago and carries $40,000 insurance on her personal belongings. She selects the $1,000,000 liability with a deductible of $1,000 for each claim and carries an identity theft/fraud protection of $24. Shay's credit is rated as bad as she has a recent bankruptcy on her record. Find her annual premium using the given table. E Click the icon to see a hypothetical table of Estimated Annual Renters Insurance Premium Rates. The annual premium is $ (Simplify your answer. Type an integer or a decimal.)that explains why Tim does or does not have enough money to pay $200 each month on his credit card. If he does have enough, give him some advice as to whether or not paying $200 each month on his credit card is a good idea. If he does not have enough, give him some advice about what he should do instead. Assume all of his taxes And expenses are as listed in #1-3, and assume that he is 20 years old and is wanting to retire at age 65. Tim will pay 5,812.5 for federal taxes 2,544.8 is the amount Tim takes home each month. Total monthly expenses= $2,15