Nancy's take-home income is $3,000 per month, and she currently has a $700 monthly consumer debt. Which of the following statements applies to Nancy's ability to handle additional debt?
A) Nancy cannot take on additional consumer debt because her debt safety ratio is higher than the lenders' guidelines.
B) Nancy can take on additional consumer debt because her debt safety ratio is higher than the lenders' guidelines.
C) Nancy cannot take on additional consumer debt because her debt safety ratio is lower than the lenders' guidelines.
D) Nancy can take on additional consumer debt because her debt safety ratio is lower than the experts' guidelines.
E) Nancy cannot take on additional consumer debt because her debt safety ratio is lower than the experts' guidelines.
Correct Answer:
Verified
Q29: Most lenders immediately will _ the first time
Q58: Credit offered in the form of _ is
Q59: _ are the credit cards issued in conjunction
Q62: When canceling a credit card, you should
Q77: A frequent flyer card can be aptly
Q77: _ involves some type of debt restructuring
Q81: Ted and Karen have a combined take-home
Q84: Most of your debts would be totally
Q85: Lindsey has a job with a monthly
Q98: The market value of your house is
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents