USE THE FOLLOWING DATA TO ANSWER THE QUESTION John and Anne have the following expenses...
50.1K
Verified Solution
Link Copied!
Question
Accounting
USE THE FOLLOWING DATA TO ANSWER THE QUESTION
John and Anne have the following expenses and account balances:
| Johns annual 401(k) contribution | $22,000 |
| Johns annual salary | $165,000 |
| Current Liabilities | $36,000 |
| Housing Costs (PITI) monthly | $3,450 |
| Cash & Cash Equivalents | $60,000 |
| Monthly non-discretionary cash flows | $7,500 |
| Monthly debt payments other than housing | $1,000 |
| * Johns employer matches $1 for $1 up to 5% of his salary in his 401(k) plan. | |
Based on the information above, calculate the Housing Ratio 2.
| 32.36% | ||
| 30.20% | ||
| 28.36% | ||
| 34.75% |
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.