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PFIN 3rd Edition by Lawrence Gitman,Michael Joehnk,Randall Billingsley
Edition 3ISBN: 978-1285082578PFIN 3rd Edition by Lawrence Gitman,Michael Joehnk,Randall Billingsley
Edition 3ISBN: 978-1285082578 Exercise 5
Robert Denby 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 Robert'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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Calculate the Debt safety ratio; if he h...
PFIN 3rd Edition by Lawrence Gitman,Michael Joehnk,Randall Billingsley
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