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Madeline Rollins is trying to decide whether she can afford a loan she needs in order to go to chiropractic school. Right now. Madeline s

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Madeline Rollins is trying to decide whether she can afford a loan she needs in order to go to chiropractic school. Right now. Madeline s living at home and works in a shoe store, earning a gross Income of $1.260 per month Her employer deducts a total of $320 for taxes from her monthly pay. Madeline also pays $190 on several credit card debts each month. The loan she needs for chiropractic school will cost an additional $290 per month Calculate her debt payments-to-Income ratio with and without the college loan.(Remember the 20 percent rule.) (Enter your answers as a percent rounded to 2 decimal places.) Debt Payments-to- Income Ratio 15.00 % With college loan Without college 6.00 x Can she currently afford the school loan? Yes o NO

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