Category: PSY 2317 UOHD Psychology Statistics Population Data Paper

I’m studying and need help with a Accounting question to help me learn .
Match each item to its best definition based on what you have learned about net worth . Group of answer choicesEverything a person owns that has a cash value
Net Worth =
A person’s total debt
The dollar value of a person’s home is . . .
A mortgage is . . .
If total assets are $24,148 . 33 and total liabilities are $66,000 . 4, calculate net worth . (Do not include the $ sign or commas in your answer) . Flag this QuestionQuestion 30 . 5 ptsIf total assets are $71,892 . 27 and total liabilities are $60,008 . 57, calculate net worth . (Do not include the $ sign or commas in your answer) . Flag this QuestionQuestion 40 . 5 ptsMatthew currently has $2,000 in his checking account and $10,000 in a savings account . He owns a home worth $120,000 and he owes $75,900 on his mortgage . His investments in a 401(k) are valued at $12,789 . He owes $29,526 on his student loans and just bought a new car . The car is currently valued at $19,965 . His auto loan balance is $19,156 . He is carrying a balance on two credit cards that adds up to $5,234 . What is the value of Matthew’s total assets?(Do not include the $ sign or commas in your answer) . Flag this QuestionQuestion 50 . 5 ptsMatthew currently has $2,000 in his checking account and $10,000 in a savings account . He owns a home worth $120,000 and he owes $75,900 on his mortgage . His investments in a 401(k) are valued at $12,789 . He owes $29,526 on his student loans and just bought a new car . The car is currently valued at $19,965 . His auto loan balance is $19,156 . He is carrying a balance on two credit cards that adds up to $5,234 . What is the value of Matthew’s total liabilities?(Do not include the $ sign or commas in your answer) . Flag this QuestionQuestion 61 ptsMatthew currently has $2,000 in his checking account and $10,000 in a savings account . He owns a home worth $120,000 and he owes $75,900 on his mortgage . His investments in a 401(k) are valued at $12,789 . He owes $29,526 on his student loans and just bought a new car . The car is currently valued at $19,965 . His auto loan balance is $19,156 . He is carrying a balance on two credit cards that adds up to $5,234 . What is Matthew’s net worth?(Do not include the $ sign or commas in your answer) . Flag this QuestionQuestion 71 ptsSophia just graduated from college . She just sold the furniture from her college apartment for $450 in cash . She just deposited $2,700 in graduation money into her checking account and has $7,500 saved in her savings account from working part-time . She charged gas and groceries to her credit card that she hasn’t paid off yet . The total balance on her credit card is $179 . Sophia has driven the same car since high school that is valued at $3,254 . She doesn’t have an auto loan . Her total student loan amount after graduating is $54,178 . What is Sophia’s net worth?(Do not include the $ sign or commas in your answer) .
ANSWER THESE QUESTIONS TO Demonstrate Your Understanding of the Debt-to-Income Ratio using the following case study information . Lyra applying for a mortgage to purchase a house . She needs to calculate her debt-to-income ratio to get a better idea of whether or not a mortgage lender will consider her as a mortgage applicant . Lyra has a gross monthly income of $5,500 and she has $1,650 withheld from her monthly paychecks to pay for taxes and retirement contributions . Lyra currently pays $400 an month on her student loans, $275 a month on an auto loan payment, and $81 a month on medical debt to pay for a surgery that she needed . Lyra expects that her monthly mortgage payment on her dream home will be $1,497 . Answer the following four questions about Lyra’s debt-to-income situation . Use the examples and formulas from the Word document you downloaded from the Section 6 . 3 page to help you . Flag this QuestionQuestion 10 . 5 ptsWhat amount equals Lyra’s monthly debt that serves as the numerator in her debt-to-income ratio excluding her future mortgage payment?Flag this QuestionQuestion 20 . 75 ptsCalculate Lyra’s debt-to-income ratio without her future mortgage payment . List the answer you receive from your calculator as a decimal rounded to the hundredths place . Do not convert to a percentage . Flag this QuestionQuestion 30 . 75 ptsWhat is Lyra’s debt-to-income ratio with her future mortgage payment included? List as a decimal rounded to the hundredths place . List the answer you receive from your calculator as a decimal rounded to the hundredths place . Do not convert to a percentage . Flag this QuestionQuestion 40 . 5 ptsIf a mortgage lender were evaluating Lyra’s debt-to-income ratio as part of their mortgage approval process, would Lyra’s debt to income ratio be considered low and acceptable, moderate and acceptable, high but possibly acceptable, or high and not acceptable?Group of answer choicesLow and acceptableModerate and acceptableHigh but possibly acceptableHigh and not acceptableFlag this QuestionANSWER THESE QUESTIONS TO Demonstrate Your Understanding of the 20-10 Rule . Read each of the following scenarios and determine if the purchase can be made and how the decision will affect the credit load . Use the examples and formulas from the Word document you downloaded from the Section 4 . 3 page to help you . Flag this QuestionQuestion 50 . 5 ptsNancy and Thomas have a combined monthly net income of $1,200 . What is the most they can afford to pay for credit card debt?Group of answer choices1201224240Flag this QuestionQuestion 60 . 5 ptsJessie has a monthly net income of $800 . His fixed monthly expenses consist of $150 for rent . He currently pays $80 each month for a credit card bill, and now he wants to buy a car . Does Jessie have enough left in his budget for a car payment to stay within his safe debt load?Group of answer choicesYesNoFlag this QuestionQuestion 70 . 5 ptsCarla has a monthly net income of $450 . She wants to buy a new bike and pay for it using a credit card . What is the largest monthly payment she can commit to making?Group of answer choices$4 . 50$14 . 50$45 . 00$90 . 00Flag this QuestionQuestion 80 . 5 ptsJorge has a monthly net income of $640 . His fixed monthly expense consists of a rent payment of $120 . Right now, how much can he afford to borrow to stay within his safe debt load? Group of answer choicesApprox . $500Approx . $750Approx . $1,500Over $2,000Flag this QuestionQuestion 90 . 5 ptsFollowing from the last question . Jorge also has a car payment of $125 per month . Jorge buys new tires on his credit card, increasing his monthly credit card payment by $40 . With his car payment and the new tires, is he still within a safe debt load?Group of answer choicesYes, because his monthly payments are below $1,500Yes, because his monthly payments are below 20% of his net annual payNo, because his monthly payments are above $64No answer text provided . No, because his monthly payments are above 20% of his net monthly pay”
” Homework Answers on Studyhelp247.com

You’re looking for homework help services? You don’t have to anymore. Studyhelp247 is here for all Study Help and Homework Assignment Needs.

Read More