Patty has $9,000 in monetary assets,annual living expenses of $36,000,a $12,000 car loan balance,and $45,000 in equity in her house.What is her month's living expenses covered ratio?

Question

Quizplus · Accepted Answer

To find Patty's month's living expenses covered ratio, we need to divide her monetary assets and equity in her house by her annual living expenses. Thus, her month's living expenses covered ratio is [(9,000 + 45,000) ÷ 36,000] = 3.0 times. Therefore, the correct answer is C.

Patty Has $9,000 in Monetary Assets,annual Living Expenses of $36,000,a