Question
Louise McIntyres monthly gross income is $3,300. Her employer withholds $800 in federal, state, and local income taxes and $350 in Social Security taxes per
| Louise McIntyres monthly gross income is $3,300. Her employer withholds $800 in federal, state, and local income taxes and $350 in Social Security taxes per month. Louise contributes $200 each month for her IRA. Her monthly credit payments for VISA and MasterCard are $115 and $110, respectively. Her monthly payment on an automobile loan is $325. |
| 1. What is Louise's debt payments-to-income ratio? (Enter your answer as a percent rounded to 2 decimal places.) |
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Financial Management Principles And Practice
Authors: Timothy Gallagher
6th Edition
1930789157, 978-1930789159
