Business, 09.03.2021 01:00 levicorey846

Madeline Rollins is trying to decide whether she can afford a loan she needs in order to go to chiropractic school. Right now, Madeline is living at home and works in a shoe store, earning a gross income of $1,100 per month. Her employer deducts a total of $240 for taxes from her monthly pay. Madeline also pays $150 on several credit card debts each month. The loan she needs for chiropractic school will cost an additional $210 per month. Calculate her debt payments-to-income ratio with and without the college loan. (Remember the 20 percent rule.)

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