2. You want to buy a car, and your gross annual income is $25,000. (LO 5-1) a....

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2. You want to buy a car, and your gross annual income is $25,000. (LO 5-1)

a. At 15% of your monthly income, how much of a loan payment can you make?

(1) $425.00

(2) $350.00

(3) $312.50

(4) $350.12

b. To keep your total debt payment under 36% of your monthly income, how much money do you have left for rent and other debt obligations?
(1) $450.37 (3) $537.40 (2) $437.50 (4) $540.50

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Personal Finance Building Your Future

ISBN: 9780077861728

2nd Edition

Authors: Robert Walker, Kristy Walker

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Question Posted: Jul 26, 2024 02:01 AM

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2. You want to buy a car, and your gross annual income is $25,000. (LO 5-1) a....

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Personal Finance Building Your Future

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