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/

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?

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

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

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