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Janice earns $3,995 a month but wants to rent an apartment for $2,100 each month. What would her front-end DTI be? Is this realistic? Why
Janice earns $3,995 a month but wants to rent an apartment for $2,100 each month. What would her front-end DTI be? Is this realistic? Why or why not? 2. Emily earns $6.445 per month. She pays $725 in rent; she pays $210 each month for her car loan; she pays $190 each month for her student loans. What would her maximum credit card payment be so that her back-end DTI ratio would not exceed 41%? 3. George earns $3,500 per month. He has a mortgage payment of $1,200 a month. His credit card bills are $250 per month, and his student loan payment is $180. Toyota will finance him a car if his back-end DTI ratio does not exceed 40%. What would his maximum car payment be for this to happen? Is this even possible? Explain.4. Audrey has graduated from college. She wants to rent an apartment for $400 per month. She already has a student loan payment of $210. She knows her credit card bills will average $200 per month. How much does she need to earn per month so that her back-end DTI ratio does not exceed 38%? 5. Lori earns $3,898 per month. She has a monthly rent payment of $980 along with average credit card payments of $325 and student loan payments of $250. She wants to finance a car but needs to determine her maximum car payment to keep her back-end DTI at 39%. What would be the maximum that car payment could be
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