Calculate the front end debt-to-income ratio

Assignment Help Business Economics

Reference no: EM13819123

Given the following information, calculate the front end debt-to-income (DTI) ratio:

- Proposed monthly principal and interest payment on a mortgage of $2,000, property tax of $6000 annually, and a $500 annual insurance payment

- Annual gross income of $120,000 , annual net income of $80,000

- Monthly expenses: car payment of $500, gym membership of $35, student loans of $350, and a cell phone payment of $60

Reference no: EM13819123

Questions Cloud

Supportive policies intended to domestic rice producers : American rice producers have extremely high production costs, due to some structural problems. Therefore, if not supported by the government, they will not be able to compete with foreign producers. Analyze two supportive policies intended to maintai..

Calculate the dead weight loss of the price ceiling : Consider a market characterized by the following demand and supply curves: Qd = 1600- 20p and Qs = - 900 + 30p. Calculate the change in producer's surplus. Calculate the deadweight loss of the price ceiling.

Cash flow in actual dollars and cash flow with inflation : Purchasing a Milling machine will cost $95,000. Installing the machine cost $15,000. Installiation and milling machine cost go together. Special tools that need purchasing cost $10,000. The Milling machine has a lifetime of 10 years. Determine the ca..

Solve for the market equilibrium and tax revenue : The supply and demand curves are: Qs = - 800 + 15p and Qd = 3200 - 25p. Solve for the market equilibrium. Now suppose a tax of $20 per unit is imposed on consumers. What are the new equilibrium quantity, buyer's price and seller's price? What is tax ..

Calculate the front end debt-to-income ratio : Given the following information, calculate the front end debt-to-income (DTI) ratio:

In a socialist economic system : In a socialist economic system, people are free to choose an occupation of their choice, but many people work in ___ jobs.

What happened to net capital outflow : A German mutual fund sells Euros to a U.S. bank for $20,000. The mutual fund then uses these dollars to purchase a bond issued by United Express, a U.S. delivery company. As a result of these two transactions, what happened to U.S. net capital outflo..

Example of an explicit income transfer : Which of the following is an example of an explicit income transfer?

Higher income is associated with a lower interest rate : The LM curve has a ___________ slope because ____________. negative; higher income is associated with a lower interest rate. positive; higher income is associated with a higher interest rate

User Account

All Pages