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Problem - Evaluating Debt Burden

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Problem - Evaluating Debt Burden

Ted Phillips has 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 Ted's debt burden? What if his take-home pay were $850 a month and he had monthly credit payments of $150?

Reference no: EM132695862

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