Determine louise-s debt payments-to-income ratio, Microeconomics

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Determine louise-s debt payments-to-income ratio

Louise McIntyre's monthly gross income is $2,000. Her employer withholds $400 in federal, state, and local income taxes and $160 in Social Security taxes per month. Louise contributes $80 per month for her IRA. Her monthly credit payments for VISA, MasterCard, and Discover card are $35, $30, and $20, respectively. Her monthly payment on an automobile loan is $285. What is Louise's debt payments-to-income ratio? Is Louise living within her means?

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Microeconomics: Determine louise-s debt payments-to-income ratio

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Request for Solution File

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Microeconomics: Determine louise-s debt payments-to-income ratio

Reference No:- TGS0520136

Have a Question? (oR Write a Review)

Recent Questions Asked Microeconomics

Q : Find the firm-s price-earnings ratio

Q : What are the three most important pieces of information

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Q : Determine louise-s debt payments-to-income ratio

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Request for Solution File

Ask an Expert for Answer!!

Microeconomics: Determine louise-s debt payments-to-income ratio

Reference No:- TGS0520136

Recent Questions Asked Microeconomics

Q : Find the firm-s price-earnings ratio

Q : What are the three most important pieces of information

Q : History of process costing in the united states

Q : Process costing accounting

Q : Determine louise-s debt payments-to-income ratio

Q : Analyze sources of waste and variation through the use

Q : Write a piecewise definition of the monthly charge

Q : Determine the total interest on loan

Q : Financial management is the process of controlling

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