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solve plz Bankruptcy leglalation-wage-earner plan. Persenal Finance Probem Jon Margan is in a financlal position where he owes rifore than he sams aach menth, Due
solve plz
Bankruptcy leglalation-wage-earner plan. Persenal Finance Probem Jon Margan is in a financlal position where he owes rifore than he sams aach menth, Due io his fick of financial plenting and a heavy dobt load, Jon yarted masing payments and saw his credt ratng piunge. Uniess carrective action is taken, Dersonal baricupticy wil follow. Jon tecenty contacted his layee in order to sot up a woge eamer plan with his credhors and ostabiah a debt repoyment schedule that is workatile in light of his personal boome. His credifors have. credian. Jon has oubatanding debt of $27,800. His credions have sot a repayment period of 4 years durng which monithy prinopio poyments are requiled They have waived al inferest charges and late fees. Joers yearly take-hoite incorne is $30,500 a. Calculate the monthy debt repayment antount. b. Determine how much excess income Jon wil heye each tronth after making these poyments. a. The montly repoyment amount is : (Plound to the nearest cent) b. Jon's monthly take-home income after monthy debt ropoyment is 1 (Round to the nearest cent) Step by Step Solution
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