Jake has total fixed monthly expenses of $1,300 and his gross monthly income is $3,900. What is his debt-to-income ratio? How does his ratio compare to the desired ratio? Debt-to-income ratio = % (Round to the nearest integer as needed.)
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- Mike and Teresa have a monthly gross income of $6,167, but they pay $502 per month in taxes. They also pay $2,974 per month in various loan payments. What is their debt service ratio? (Keep 2 decimal places)Jacque's total monthly loan payments are 1020 while her gross income is 3939 per month. What is her debt service ratio?Gabriela has the following income for the quarter: a. Professional income,P80,000 b. Income from her business, P30,000 c. Compensation income,P40,000 d. Interest income from bank deposit, P10,000. What amount ofincome will Gabriela report in her quarterly income tax return? P80,000P110,000P120,000P150,000
- Ed and Marta are paid $4,130 after taxes every month. Monthly expenses include $1,397 on housing and utilities, $674 for auto loans, $216 on food, and an average of $1,246 on clothing and other variable expenses. Calculate and interpret their savings ratio. The amount of Ed and Marta's income available for savings and investment is $?. Round to the nearest dollar.Chris and Karen have a combined take-home income of $5,000. Their total monthly payments on consumer debt are $875. What is their debt safety ratio? Are they exhibiting any sign of approaching credit problems?Alice makes $40,800 per year before taxes, which equal $9995 total for state income tax and all federal taxes. Alice pays $500 per month in rent, $200 per month in student loans, $480 every six months for insurance, about $25 per week in groceries, roughly $150 per month for entertainment, and exactly $70 per month for utilities. Assume 4 weeks in a month. What is her debt to income ratio?
- Louise Mclntyre's monthly gross income is $3,100. Her employer withholds $780 in federal, state, and local income taxes and $330 in Social Security taxes per month. Louise contributes $180 each month for her IRA. Her monthly credit payments for VISA and MasterCard are $105 and $100, respectively. Her monthly payment on an automobile loan is $335. a. What is Louise's debt payments-to-income ratio?Ed and Marta are paid $2 comma 410 after taxes every month. Monthly expenses include $777 on housing and utilities, $395 for auto loans, $164 on food, and an average of $713 on clothing and other variable expenses. Assuming that they save excess funds, calculate and interpret their savings ratio. Hint: Prepare an income statement, and then compute the ratio.Anna has the following income for the quarter: a. Professional income P80,000 b. Income from her business P30,000 c. Compensation income P40,000 d. Interest income from bank deposit P10,000. 1. What amount of income will Anna report in her quarterly income tax return? a. P80,000 b. P110,000 c. P120,000 d. P150,000 2. If Anna, opted to use 8% rate, how much is her income tax due in her quarterly ITR? a. P6,400 b. P8,800 c. P9,600 d. P12,000
- Louise’s monthly gross income is $2,800. Her employer withholds $560 in federal, state, and local income taxes and $224 in Social Security taxes per month. Louise contributes $112 per month for her IRA. Her monthly credit payments for Visa, MasterCard, and Discover cards are $44, $34, and $21, respectively. Her monthly payment on an automobile loan is $355. (a) What is Louise’s debt payments-to-income ratio? Im not sure how to answer this as a percent rounded to 1 decimal place. (b) Is Louise living within her means?Kevin Mills has a monthly take-home pay of $3,315; he makes payments of $430 a month on his outstanding consumer credit (excluding the mortgage on his home). How would you characterize Kevin's debt burden? Assume that the debt safety ratio below 10% is considered low, below 15% - manageable, and the maximum acceptable debt safety ratio is 20%.Mark makes $82,420 per year and pays about 23% of his gross monthly income in federal and state taxes. He wants to find an apartment to rent. Estimate how much he can afford to pay for rent each month. Then determine how much money he will have after taxes and rent are paid