What is van total obligations ratio

Assignment Help Financial Accounting
Reference no: EM132864955

Van Nguyen earns a gross income of $2960 per month. She has applied for a mortgage with a monthly PITI of $596.20. Van has other financial obligations totaling $219 per month.

Problem a) What is Van's housing expense ratio? Round to the nearest tenth of a percent.

Problem b) What is Van's total obligations ratio? Round to the nearest tenth of a percent.

Problem c) For a traditional mortgage, the housing expense ratio should not exceed 28% of monthly income and the total obligations ratio should not exceed 36% of monthly income. Does Van qualify for a traditional mortgage?

Reference no: EM132864955

Questions Cloud

What is new balance for chris : One June 9, Chris made a payment of $800, and on June 17 he borrowed $5600. If the current prime rate is 10%, what is his new balance?
What amount is recorded for net investment : The lease requires annual fixed rental payments of $ 7, 000 per year beginning on January? 1, 2019, What amount is recorded for net investment
Find the loan payoff amount : The total finance charge was $8129.96. After 22 months, Barbara decided to pay off the loan. Use Rule of 78 to find the loan payoff amount.
What is cultural intelligence : What is cultural intelligence and its relevance to global leadership?
What is van total obligations ratio : What is Van's total obligations ratio? Van Nguyen earns a gross income of $2960 per month. She has applied for a mortgage with a monthly PITI of $596.20.
What is the principal balance in the Net Investment : What is the principal balance in the Net Investment in Lease long - Sale type account after the first? payment
What is leadership aspiration : Respond to the following questions and complete the development planning template as yourself. Write in paragraphs.
What is the maximum cca rani can deduct against rental : Rental revenue of $11,786 and has rental expenses of $2,152. What is the maximum CCA Rani can deduct against her rental property income in 2019?
What is craft beer : What is craft beer, according to the author? Does the author's definition differ from the definition of craft beer in the Ontario context? Draw upon reputable w

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd