1. Suppose that your monthly net income is $1,500. Your monthly debt payments include your student loan...

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1. Suppose that your monthly net income is $1,500. Your monthly debt payments include your student loan payment and a gas credit card, and they total $200. What is your debt payments-to-income ratio?

2. Suppose you borrow $1,000 at 6 percent and will repay it in one payment at the end of one year. Use the simple interest formula to determine the amount of interest you will pay.

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Focus On Personal Finance

ISBN: 9781259919657

6th Edition

Authors: Jack Kapoor, Les Dlabay, Robert Hughes, Melissa Hart

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