View the step-by-step solution to:

133. Robert Smith has monthly net income of $1,050. He has a house payment of $450 per month, a car loan with payments of $250 per month, a Visa card...

This question was created from Chapter 06 Testbank - Static.rtf https://www.coursehero.com/file/28661051/Chapter-06-Testbank-Staticrtf/

28661051-189630.jpeg

Robert Smith has monthly net income of $1,050. He has a house payment of $450 per month, a car loan with payments of $250 per month, a Visa card with payments of $50 per month, and a credit card with a local department store with payments of $100 per month. What is Robert's debt payments-to-income ratio?

28661051-189630.jpeg

133. Robert Smith has mpnthl'yr net income pf $1,051}. He has a hpuse payment of $4512} per mpnth, a car
loan with payments of $250 per month a 1|«i‘isa card with payments of $50 per mpnth, and a credit card
with a lpcai department store with payments of $100 per mpnth. What is Rupert‘s debt payments—to—
incpme ratio? A. 2.63 B. 1.24 C. 0.81 nn'ln

Top Answer

C. 0.81 Robert Smith has monthly net income of $1,050. He has a house payment of $450 per month, a car loan with payments of... View the full answer

Sign up to view the full answer

Other Answers

The debt payment to income... View the full answer

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.

-

Educational Resources
  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

    Browse Documents
  • -

    Question & Answers

    Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question
Ask a homework question - tutors are online