2. Louise McIntyres monthly gross income is $2,000. Her employer withholds $400 in federal, state, and local
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2. 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 each month for her IRA. Her monthly credit payments for Visa and MasterCard are $35 and $30, 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? (LO5.3)
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Kirti Kaushal
Having experience of more than 10 years is good enough to coach my students. Currently, I am working as an active supervisor of ACCA students. In my career, I helped students in financial accounting, management accounting, cost accounting, financial reporting, taxation, and audit. I also helped students publish their articles or papers in good journals. I also helped students with thesis and objective writing.
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Related Book For 
Focus On Personal Finance
ISBN: 9781259919657
6th Edition
Authors: Jack Kapoor, Les Dlabay, Robert Hughes, Melissa Hart
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