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PFIN 2nd Edition by Lawrence Gitman ,Michael Joehnk,Randall Billingsley
Edition 2ISBN: 978-1111821999PFIN 2nd Edition by Lawrence Gitman ,Michael Joehnk,Randall Billingsley
Edition 2ISBN: 978-1111821999 Exercise 2
Scott North has a monthly take-home pay of $1,685; he makes payments of $410 a month on his outstanding consumer credit (excluding the mortgage on his home). How would you characterize Scott's debt burden? What if his take-home pay were $850 a month and he had monthly credit payments of $150?
Explanation
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In order to determine SN's debt burden, ...
PFIN 2nd Edition by Lawrence Gitman ,Michael Joehnk,Randall Billingsley
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