Question
Susan has offered her personal guarantee to support a loan to her business. Her personal financial statement shows only three liabilities: an auto loan with
Susan has offered her personal guarantee to support a loan to her business. Her personal financial statement shows only three liabilities: an auto loan with a balance (including interest on all remaining payments) of $8,500 with a monthly payment of $350; a personal loan with a remaining balance of $15,000 and a monthly payment of $300, and a loan for $15,000 from a relative with repayment of $500 per month to begin 2 years from now. What is the total of Susan's current liabilities (liabilities due within one year)?
A) $7,800
B) $8,500
C) $13,800
D) $22,800
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