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Ima Matelika's information is as follows: She has monthly gross pay of $2,800 and pays 22% in FICA/FIT/SIT taxes (hint: you need to figure out
Ima Matelika's information is as follows: She has monthly gross pay of $2,800 and pays 22% in FICA/FIT/SIT taxes (hint: you need to figure out her net or 'bring home' pay) Her monthly debt payments include: Karl Tyler Chevrolet $211.26 SAF Student Loan $240.00 Capital One Credit Card $ 85.00 Questions 1. What is her debt to safety ratio? 2. What is one option for bringing her to the proper safety ratio - show specific numbers? 3.. What is the second option for bringing her to the proper safety ratio (again, specifically). 4. Discuss your overall opinion in two sentences as to Ima's situation?
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1 Debt to safety ratio is calculated by dividing total debt payments by monthly gross pay In this ca...
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Financial Accounting Tools for Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
7th Canadian edition
1119368456, 978-1119211587, 1119211581, 978-1119320623, 978-1119368458
