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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 Is

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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 Is living at home and works in a shoe store, earning a gross income of $1.240 per month. Hr employer deducts a total of $310 for taxes from her monthly pay. Madeline also pays $185 on several credit card debts each month. The loan she needs for chiropractic school will cost an additional $280 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.) Dobl Payments to Income Ratio With college loan Without college loan Can she currently afford the school loan? 0 Yes

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