Problem 5-3 (LO5.3) Robert Sampson owns a $189,000 townhouse and still has an unpaid mortgage of...
Problem 5-3 (LO5.3)
|
Robert Sampson owns a $189,000 townhouse and still has an unpaid mortgage of $154,000. In addition to his mortgage, he has the following liabilities: |
| Visa | $ | 775 |
| MasterCard | 420 | |
| Discover card | 575 | |
| Education loan | 2,100 | |
| Personal bank loan | 300 | |
| Auto loan | 5,300 | |
| Total | $ | 9,470 |
|
Robert’s net worth (not including his home) is about $43,000. This equity is in mutual funds, an automobile, a coin collection, furniture, and other personal property. |
| a. |
What is Robert’s debt-to-equity ratio? (Round your answer to 2 decimal places.) |
| Debt-to-equity ratio: |
| b. | Has he reached the upper limit of debt obligations? |
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Problem 5-3 (LO5.3)
Robert Sampson owns a $189,000 townhouse and still has an unpaid
mortgage of...
Robert Sampson owns a townhous has the following liabilities: ,000 and still has an unpaid mortgage...
Robert Sampson owns a townhous has the following liabilities: ,000 and still has an unpaid mortgage of $157,000. In addition to his mortgage, he Visa MasterCard Discover card Education loan Personal bank loan Auto loan Total $ 790 450 590 3,300 600 5,600 $11,330 Robert's net worth (not including his home) is about $46,000. This equity is in mutual funds, an automobile, a coin collection, furniture, and other personal property. a. What is Robert's debt-to-equity ratio? (Round your answer to...
Help me with all the questions please and thank you Cho5 HW 6 Saved Help Save...
Help me with all the questions please and thank you
Cho5 HW 6 Saved Help Save & Exlt Submit Check my work 2 Problem 5-2 (LO5.3) Louise McIntyre's monthly gross income is $4,000. Her employer withholds $870 in federal, state, and local income taxes and $420 in Social Security taxes per month. Louise contributes $270 each month for her IRA. Her monthly credit payments for VISA and MasterCard are $150 and $190, respectively. Her monthly payment on an automobile loan...
A few years ago, Simon Powell purchased a home for $215,000.
Problem 5-1 (LO5.2) A few years ago, Simon Powell purchased a home for $215,000. Today, the home is worth $380,000. His remaining mortgage balance is $165,000. Assuming that Simon can borrow up to 75 percent of the market value, what is the maximum amount he can currently borrow against his home? Amount available for borrowing _______ Problem 5-2 (LO5.3) Louise Mclntyre's monthly gross income is $4,000. Her employer withholds $870 in federal, state, and local income taxes and $420 in Social Security taxes per...
Snipping Tool File Edit Tools Help Apps New - Mode Delay Robert owns a $140,000 town...
Snipping Tool File Edit Tools Help Apps New - Mode Delay Robert owns a $140,000 town house and still has an unpaid mortgage of $110,000. In addition to his mortgage, he has the following liabilities: Liabilities Visa MasterCard Discover card Education loan Personal bank loan Auto loan Total 565 480 395 920 800 4,250 7,410 $ Robert's net worth (not including his home) is about $21,000. This equity is in mutual funds, an automobile, a coin collection, furniture, and other...
Robert Sampson owns a townhous has the following liabilities: ,000 and still has an unpaid mortgage of $157,000. In addition to his mortgage, he Visa MasterCard Discover card Education loan Personal bank loan Auto loan Total $ 790 450 590 3,300 600 5,600 $11,330 Robert's net worth (not including his home) is about $46,000. This equity is in mutual funds, an automobile, a coin collection, furniture, and other personal property. a. What is Robert's debt-to-equity ratio? (Round your answer to...
Help me with all the questions please and thank you
Cho5 HW 6 Saved Help Save & Exlt Submit Check my work 2 Problem 5-2 (LO5.3) Louise McIntyre's monthly gross income is $4,000. Her employer withholds $870 in federal, state, and local income taxes and $420 in Social Security taxes per month. Louise contributes $270 each month for her IRA. Her monthly credit payments for VISA and MasterCard are $150 and $190, respectively. Her monthly payment on an automobile loan...
Snipping Tool File Edit Tools Help Apps New - Mode Delay Robert owns a $140,000 town house and still has an unpaid mortgage of $110,000. In addition to his mortgage, he has the following liabilities: Liabilities Visa MasterCard Discover card Education loan Personal bank loan Auto loan Total 565 480 395 920 800 4,250 7,410 $ Robert's net worth (not including his home) is about $21,000. This equity is in mutual funds, an automobile, a coin collection, furniture, and other...
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