Robert Denby has a monthly take-home pay of $1,685; he makes payments of $410 a month on

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Robert Denby 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 Robert’s debt burden? What if his take-home pay was $850 a month and he had monthly credit payments of $150?

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Personal Financial Planning

ISBN: 978-1111971632

13th edition

Authors: Lawrence J. Gitman, Michael D. Joehnk, Randy Billingsley

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