Joe Smith earns $72,000 per year. His bank uses a rule that PITI must be equal to or less than one third of gross monthly income. If his home owner's insurance is $100 per month, roughly how much of a monthly payment can Joe afford including taxes over and above the $100 for insurance?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Joe Smith earns $72,000 per year. His bank uses a rule that PITI must be equal to or less than one third of gross monthly income. If his ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
QRC Company is trying to decide which one of two alternatives it will accept. The costs and revenues associated with each alternative are listed below: Alternative A Alternative B Projected revenue $ 125,000 $ 150,000 Unit-level costs 25,000 36,000
Answers (1)
True or false: Accumulated Depreciation is a contra-account to a long-lived asset account, such as Equipment. This means that it is added to the balance of the long-lived asset in the balance sheet.
Answers (1)
In the RST partnership, Ron's capital is $80,000, Stella's is $75,000, and Tiffany's is $50,000. They share income in a 3:2:1 ratio, respectively. Tiffany is retiring from the partnership. Each of the following questions is independent of the others.
Answers (1)
Employers will rely only on professional background when making hiring decisions true or false
Answers (2)
Suppose a state has the following individual income tax structure. The first $20,000 that an individual earns is taxed at 5%. The next $30,000 is taxed at 10%. Any income exceeding $50,000 is taxed at 20%.
Answers (1)
New Questions in Business
Rapidly growing companies often buy increasing amounts of merchandise from suppliers on credit, and then sell the goods to their customers on credit.
Answers (1)
The legal document stating the intent to buy a commodity at a set price is called a A. Purchase order B. Invoice C. Financial report D. Balance sheet
Answers (1)
The costs in time and other resources that parties incur in the process of facilitating an exchange of goods and services are called a. enforcement costs. b. implicit costs. c. transactions costs. d. explicit costs.
Answers (1)
3. John Fillmore's lifelong dream is to own his own fishing boat to use in his retirement. John has recently come into an inheritance of $400,000. He estimates that the boat he wants will cost $300,000 when he retires in 5 years.
Answers (1)
What would happen if the unemployment rate was 0%? What would happen if the inflation rate was 0%? Describe which rates would be more beneficial for the economy and why.
Answers (1)