Brooklyn and Matthew both recently got a job and want to start a savings account to earn interest on money they save. Brooklyn's paycheck for was for $625 net pay-after taxes. the bank her parents use offer savings account compounded monthly with an interest rate of 2.5%. Matthews paycheck was also for $446 net pay. his parents know of a savings account that earns 4% compounded quarterly.
a. use the compounding interest rate formula to identify who will have more money after two years (assuming no additional deposits or withdrawals are made)
b. use the Desmos graphing calculator to graph Brooklyn's equation and Matthew’s equation on the same graph. identify the points of intersection and interpret the results.

WHAT MISTAKES DID THE STUDENTS MAKE??

Brooklyn And Matthew Both Recently Got A Job And Want To Start A Savings Account To Earn Interest On

Answers

Answer 1

After two years, Brooklyn will have more money in her savings account than Matthew.

Brooklyn's savings account grows at a slower rate than Matthew's initially but eventually catches up and surpasses Matthew's account due to the higher interest rate and monthly compounding.

a.

[tex]A = P(1 + r/n)^{nt}[/tex]

where A is the final amount, P is the initial principal (or net pay), r is the interest rate (as a decimal), n is the number of times the interest is compounded per year, and t is the number of years.

For Brooklyn saving account,

P = $625, r = 0.025, n = 12 (monthly compounding), and t = 2.

A = $625(1 + 0.025/12)^(12*2) = $686.71

For Matthew saving account,

P = $446, r = 0.04, n = 4 (quarterly compounding), and t = 2.

A = $446(1 + 0.04/4)^(4*2) = $506.84

b.

To graph Brooklyn's equation and Matthew's equation on the same graph, we can use the following equations:

Brooklyn's equation: A = 625(1 + 0.025/12)^(12t)

Matthew's equation: A = 446(1 + 0.04/4)^(4t)

Now,

The resulting graph will show the growth of each saving account over time.

The points of intersection on the graph represent the times when the two savings accounts have the same amount of money.

From the graph, we can see that the two accounts intersect at around 11 months and 23 months.

We can say that Brooklyn's savings account grows at a slower rate than Matthew's initially, but eventually catches up and surpasses Matthew's account due to the higher interest rate and monthly compounding.

Thus,

After two years, Brooklyn will have more money in her savings account than Matthew.

Brooklyn's savings account grows at a slower rate than Matthew's initially but eventually catches up and surpasses Matthew's account due to the higher interest rate and monthly compounding.

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Related Questions

Thanks to an initiative to recruit top students, an administrator at a college claims that this year's entering
class must have a greater mean IQ score than that of entering classes from previous years. The
administrator tests a random sample of 17 of this year's entering students and finds that their mean IQ score
is 114, with a standard deviation of 15. The college records indicate that the mean IQ score for entering
students from previous years is 113.
Is there enough evidence to conclude, at the 0.05 level of significance, that the population mean IQ score, μ,
of this year's class is greater than that of previous years? To answer, assume that the IQ scores of this year's
entering class are approximately normally distributed.
Perform a one-tailed test. Then complete the parts below.
(If Rococcan consult a list of

Answers

Answer: The answer is B and im 100% correct

Step-by-step explanation:

When an object is dropped vertically from a platform, its height after
seconds can be estimated with the formula shown.

ℎ=ℎ0−162



is the height of the object in feet.
ℎ0
is the initial height of the object in feet.

is the time in seconds after the drop.

Which equation and solution tells how long it takes the object to reach a height of 96
feet if its initial height is 208
feet?

Answers

An equation and solution that tells how long it takes the object to reach a height of 96 feet if its initial height is 208 feet is:

D. 96 = 208 - 16t²

    t = √7

How to determine the time when the object would reach a height of 96 feet?

Based on the information provided, we can logically deduce that the height (h) in feet, of this object above the​ ground is related to time by the following quadratic function:

h(t) = h₀ - 16t²

When the initial height is 208 feet and final height is 96 feet, the height function becomes;

h(t) = h₀ - 16t²

96 = 208 - 16t²

16t² = 208 - 96

16t² = 112

t² = 112/16

Time, t = √7 seconds.

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full method please
-8+27÷(-3)-(-2)​

Answers

The solution of the expression -8+27÷(-3)-(-2)​ is determined by applying the rule of BODMAS as -35.

What is the solution of the expression?

The solution of the expression is calculated by applying the following formula as shown below;

BODMAS;

B - stands for bracketO - stands for ofD - stands for divisionM - stands for multiplicationA - stands for AdditionS - stands for subtraction

Based on the rule of BODMAS, we solve the bracket first, then division, before addition and subtraction.

-8+27÷(-3)-(-2)​ = -8+27÷ -1

-8+27÷ -1 = -8 - 27

-8 - 27 = - 35

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An airplane company flies 39 airplanes daily. The CEO collects the following passenger counts for a random sample of airplanes from the fleet, as shown below. 123, 132, 158, 77, 158, 123, 132, 123, 158, 77 Assuming that the sample is representative of the entire fleet of airplanes, what would be the mean daily passenger count per plane?

Answers

Answer:

To find the mean daily passenger count per plane, we need to calculate the average of the passenger counts for the sample.

We can do this by adding up all the passenger counts and dividing by the number of planes in the sample:

(123 + 132 + 158 + 77 + 158 + 123 + 132 + 123 + 158 + 77) / 10

= 1259 / 10

= 125.9

Therefore, the mean daily passenger count per plane is approximately 125.9 passengers.

Step-by-step explanation:

To calculate the mean daily passenger count per plane, we need to add up the total number of passengers and divide by the number of planes. The total number of passengers is the sum of the passenger counts for all the planes in the sample: 123 + 132 + 158 + 77 + 158 + 123 + 132 + 123 + 158 + 77 = 1251. The number of planes in the sample is 10. So, the mean daily passenger count per plane is 1251/10 = 125.1. Therefore, the answer is 125.1.

Please anwser this is all the points I have :)

Answers

Check the picture below.

so let's recall that the area of a circle is just πr² where r = radius, so since the sizes of each pizza are 10, 14, 18 and 22, that's simply their diameter, so that means they each have a radius half of that, or namely 5, 7, 9 and 11, as you see in the picture, so, hmmm which radius gives us the most area per the fraction provided, namely per slices provided?

[tex]\cfrac{4}{8}\pi 5^2\implies \cfrac{25\pi }{2} ~~ \approx ~~ 39.26~in^2 \\\\[-0.35em] ~\dotfill\\\\ \cfrac{3}{8}\pi 7^2\implies \cfrac{147\pi }{8} ~~ \approx ~~ 57.73~in^2 \\\\[-0.35em] ~\dotfill\\\\ \cfrac{2}{8}\pi 9^2\implies \cfrac{81\pi }{4}~~ \approx ~~ 63.62~in^2 ~~ \textit{\LARGE \checkmark} \\\\[-0.35em] ~\dotfill\\\\ \cfrac{1}{8}\pi 11^2\implies \cfrac{121\pi }{8}~~ \approx ~~ 47.52~in^2[/tex]

Answer: Large

Step-by-step explanation:  Hope it helps Good luck!!!

NO LINKS!!! URGENT HELP PLEASE!!!!

Please assist me with these problems.

Answers

Answers in bold

7.  Not congruent

8.  Congruent by the HL theorem

HL = hypotenuse leg

==========================================

Explanation for problem 7

The tickmarks on segments MA and AT tell us that these segments are congruent. Another pair of congruent segments would be AE = AE by the reflexive property.

Then angle EMA = angle ETA because of the similar arc markings for those angles.

We have these congruence facts:

MA = AT (side)AE = AE (side)angle EMA = angle ETA (angle)

But recall that the "side side angle" rule isn't a valid congruence theorem. Search out "SSA ambiguous case" for more information.

We cannot use SAS because the angle is not between the sides mentioned.

Therefore, we don't have enough information to determine if the triangles are congruent or not. We can't say they are congruent, so the only thing we can do is say "not congruent" until more info comes along.

------------

Explanation for problem 8

We use the HL (hypotenuse leg) theorem. It works for right triangles only.

The congruent legs are segment ON = segment ON because of the reflexive property.

The congruent hypotenuses are MN = RO because of the tickmarks.

In short, the triangles are congruent by the HL theorem.

the french club is holding a car wash fundraiser. They are going to charge $20 per car, and expect between 30 and 100 cars. Identify the independent and dependent quality in the situation, and find reasonable domain and range values

Answers

Correct option is,

A: number of cars; money raised; 30 to 100 cars; $600 to $2000 is the right option.

Since, An independent variable is a variable that represents a quantity that is being controlled  in an experiment.

A dependent variable represents a quantity whose value depends on how the independent variable is controlled.

Now, In the given question;

The number of cars represents the independent variable while money raised represents independent variable .

Domain is the set of values the independent variable can take .

The number of cars 30 to 100 represents the Domain.

The range is corresponding y values .

The charge per car is $20.

Hence, Range = 30 x 20

                       =600

to Range = 100 x 20

              = 2000.

Thus, Correct option is,

A: number of cars; money raised; 30 to 100 cars; $600 to $2000 is the right option.

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Complete question is,

The French club is holding a car wash fundraiser. They are going to charge $20 per car, and expect between 30 and 100 cars. Identify the independent and dependent quantity in the situation, and find reasonable domain and range values.

A: number of cars; money raised; 30 to 100 cars; $600 to $2000

B: money raised; number of cars; 30 to 100 cars; $600 to $2000

C: number of cars; money raised; $600 to $2000; 30 to 100 cars

D: money raised; number of cars; $600 to $2000; 30 to 100 cars

Find the value of x 30 degrees and 50 degrees

Answers

Answer: I think its 1500x

Step-by-step explanation: I multiplied them both.

Hope it helped :D

Answer:

1500000000000

Step-by-step explanation:

i don't know how but the answer is pretty easy but I don't feel like it so yeah there's

11 zero s

In a jar of lollies there are 6 more orange lollies than green ones and there is only one red lolly. If there are 47 lollies in the jar, how many orange ones are there?

Answers

Answer:

Let's use "g" to represent the number of green lollies in the jar.

According to the problem, there are 6 more orange lollies than green ones, so the number of orange lollies is "g + 6".

We also know that there is only one red lolly.

The total number of lollies in the jar is 47, so:

g + (g + 6) + 1 = 47

Simplifying the equation:

2g + 7 = 47

Subtracting 7 from both sides:

2g = 40

Dividing by 2:

g = 20

So there are 20 green lollies in the jar.

And since there are 6 more orange lollies than green ones, there must be:

g + 6 = 20 + 6 = 26 orange lollies in the jar.

Step-by-step explanation:

Given X = [b a / 4 a] , Y = [c d / a b] , and Z= [a c / 16 b]
What is Y if X-2Y=Z?
[2 -4/ -6 -2]
[4 -8/ -12 -4]
[-4 8/ 12 4]
[12 0/ 12 -12]​

Answers

Answer:

[2 -4/ -6 -2]

Step-by-step explanation:

To solve for Y, we need to rearrange the equation X-2Y=Z to isolate Y.

X - 2Y = Z

2Y = X - Z

Y = (X - Z)/2

Now we substitute the given matrices for X and Z, and solve for Y:

X =

[b  a

4  a]

Z =

[a   c

16  b]

X - Z =

[b-a   a-c

-12   a-b]

Y = (X - Z)/2 =

[(b-a)/2  (a-c)/2

-6       (a-b)/2]

So the answer is Y = [ (b-a)/2, (a-c)/2 / -6, (a-b)/2 ].

Therefore, the answer is (a) [2 -4/ -6 -2].

The calculated value of the matrix Y is [tex]Y = \left[\begin{array}{cc}2&-4\\-2&-6&\end{array}\right][/tex]

Calculating the matrix Y

From the question, we have the following parameters that can be used in our computation:

The matrix definitions

Given that

X - 2Y = Z

So, we have

b - 2c = a

a - 2d = c

4 - 2a = 16

a - 2b = b

So, we have

4 - 2a = 16

-2a = 12

a = -6

Next, we have

a - 2b = b

-6 - 2b = b

3b = -6

b = -2

Next, we have

b - 2c = a

-2 - 2c = -6

-2c = -4

c = 2

Lastly. we have

a - 2d = c

-6 - 2d = 2

-2d = 8

d = -4

The matrix Y is given as

[tex]Y = \left[\begin{array}{cc}c&d\\b&a&\end{array}\right][/tex]

So, we have

[tex]Y = \left[\begin{array}{cc}2&-4\\-2&-6&\end{array}\right][/tex]

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What is the area of this polygon?

Answers

Answer:

78

Step-by-step explanation:

(5+8)×12/2=78

(5+8)×12/2=78

Rectangle LMNP is similar to rectangle WXYZ.
The length of LM is 19 in, the area of rectangle LMNP is 140.6 in2, and the length of XY is 2.22 in.
What is the difference between the perimeters of the two rectangles?
A. 31.96 in
B. 36.96 in
C. 15.84 in
D. 41.96 in

Answers

The required, difference between the perimeters of the two rectangles is,

⇒ 46.03 in.

Since, rectangles LMNP and WXYZ are similar, their corresponding sides are proportional. Let's denote the scale factor as k.

Then, We get:

k = XY / LM

k = 2.22 / 19

To find the value of k, we can divide 2.22 by 19:

k ≈ 0.117

Hence, The area of rectangle LMNP is given as,

140.6 in².

We can use this to find the length of NP:

LM x NP = area of LMNP

19 x NP = 140.6

NP ≈ 7.4 in

Since, the sides of WXYZ are proportional to those of LMNP, we can find the length of YZ:

XY / YZ = LM / NP

2.22 / YZ = 19 / 7.4

YZ ≈ 1.167 in

Now we can calculate the perimeters of both rectangles:

Perimeter of LMNP = 2(LM + NP) = 2(19 + 7.4) = 52.8 in

Perimeter of WXYZ = 2(XY + YZ) = 2(2.22 +1.167) = 6.77in

Thus, The difference between the perimeters is:

52.8 - 6.77 = 46.03 in

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HELPPP DUE TOMORROW

Answers

Answer: 1/2 cup oats 2/3 cup flower

At their practices, the volleyball team ran a total of 10 miles in 14 days. The tennis team ran a total of 8 miles in 7 days. Which team ran more miles per day?

Answers

Answer:

tennis team

Step-by-step explanation:

because they ran 8 miles is 7 days to get equal amount of days you multiply by 2 on both 8 miles and 7 days so they ran 16 miles in 14 days thats y tennisbteam ran more miles

Find the indicated vector

Answers

Answer:

  (d)  5i -j

Step-by-step explanation:

You want the value of the expression 2u -v where u=3i and v=i+j.

Substitution

Use the given definitions of u and v, and simplify in the usual way.

  2u -v = 2(3i) -(i+j)

  = 6i -i -j . . . . . . . . . eliminate parentheses

  = 5i -j

__

Additional comment

The unit vectors i and j can be treated as though they were variables. The usual properties of equality and (scalar) arithmetic apply.

SOMEONE PLEASE HELP

The number of chips of different colors in Gail's bag is shown below
-2 blue chips
-4 pink chips
-8 white chips
Gail takes out a chip from the bag randomly without looking, She replaces the chip and then takes out another chip from the bag. What is the probability that Gail takes out a white chip in both draws?

Answers

Answer:

8 over 15 multiplied by 7 over 14 is equal to 56 over 210

8 over 15 plus 7 over 14 is equal to 217 over 210

8 over 15 plus 8 over 15 is equal to 16 over 15

8 over 15 multiplied by 8 over 15 is equal to 64 over 225

She's taking it out and then she replaces it

and so that means the denominator would stay 15 both times

and since it's a white chip in both draws, it would be 8/15 * 8/15

A wallet contains 34 notes, all of which are either $5 or $10 notes. If it amounts to $235, how many $10 notes are there?

Answers

Let's assume that the number of $5 notes in the wallet is x, and the number of $10 notes is y.

According to the problem, we know that:

- x + y = 34 (since the wallet contains a total of 34 notes)
- 5x + 10y = 235 (since the total amount of money in the wallet is $235)

We can use the first equation to solve for x in terms of y:

x = 34 - y

Substituting this expression for x into the second equation, we get:

5(34 - y) + 10y = 235

Simplifying and solving for y, we get:

y = 15

Therefore, there are 15 $10 notes in the wallet.

Answer:

For this question, you can use the simultaneous equation to solve this problem.

Equation 1 reads: x + y = 34. (There are 34 notes in total.)

Equation 2: 5x + 10y = 235 (The notes are worth a total of $235.)

To find x in terms of y, we can apply equation 1:

x = 34 - y

When we use this expression to replace x in equation 2, we obtain:

5(34 - y) + 10y = 235

By condensing and figuring out y, we get at:

y = 15

There are 15 $10 bills in the wallet as a result.

Which function represents the graph of f(x) = -4 lxl after it is translated 3 units down?

A.g(x) = -4 lxl + 3

B. g(x) = -4 lxl - 3

C. g(x) = -4 lx + 3|

D. g(x) = -4 lx - 3l

Answers

Answer:

B

Step-by-step explanation:

When translating in the y-axis, we want to add or subtract our value outside of the function, or in this case, outside of the modulus.

We want to move 3 units down, or 3 units in the negative direction. Therefore, we take 3 away from the function.

Answer B.

Need help solving this problem please help

Answers

The height of tree is given as follows:

40 ft.

How to obtain the height of the tree?

The height of the tree is obtained applying the proportions in the context of this problem.

The proportions are applied as a rule of three can be formed between the heights and the shadows for both the tree and the person, as follows:

h/30 = 6/4.5

Applying cross multiplication, the value of h is obtained as follows:

4.5h = 30 x 6

4.5h = 180

h = 180/4.5

h = 40 ft.

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QUICK, I’LL MARK U BRAINLIEST!! Help me solve this problem!

Answers

Based on the information, bIda would owe $3700 at the end of 12 months.

Ida would owe $3808 at the end of 12 months.

How to calculate the interest

The formula will be:

I = P * r * t

I = 2500 * 0.04 * 12 = $1200

So, Ida would owe $2500 + $1200 = $3700 at the end of 12 months.

b. For option b, , the monthly interest rate is:

r = 0.01 * 4.33 = 0.0433

Using the same simple interest expression:

I = 2500 * 0.0433 * 12 = $1308

Ida would owe $2500 + $1308 = $3808 at the end of 12 months.

Therefore, option a is the better choice due to the fact she would owe less in total with a simple interest rate of 4% annually.

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Square with top and left sides labeled 1. The square is divided into 6 equal sections vertically and the first section is divided into 2 equal sections horizontally. The first of these sections is shaded.

Number line from 0 to 1. There are 5 large tick marks equally spaced between 0 and 1. There are 3 equally spaced smaller tick marks between every pair of large tick marks. The first of these smaller tick marks has a dot on it.

Question

Raj combined white sand with black sand to make 14 pound mixture of sand. Raj then put an equal amount of this sand mixture into each of 5 vases. All of Raj's sand mixture went into the vases.

How much sand was in each vase?
Responses

140​ lb
1 over 40, ​, lb
120​ lb
, 1 over 20, ​, lb
14​ lb
1 fourth, ​, lb
45​ lb
4 over 5, ​, lb

Answers

The amount of sand in each vase is 2.8 pounds by dividing the total amount by the number of vases.

Given that,

Raj combined white sand with black sand to make 14 pound mixture of sand.

Total amount of sand = 14 pounds

Number of vases to which sand is put = 5 vases

Amount of sand in each vase can be found by dividing the total amount by the number of vases.

Amount of sand in each vase = 14 / 5 = 2 4/5 pounds = 2.8 pounds

Hence the total amount of sand is 2.8 pounds.

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a certain forest covers an area of 1700km^(2). Suppose that each year this area descreases by 7.5%. What will the area be after 11 years?

Answers

Answer: y= 1700 (1- .0325) ^15= 1700(.9675) ^15=1700(.60920660)= 1035.65 km Hope this helps!

Step-by-step explanation:To calculate the area of the forest after 5 years, we need to use the formula:

A = A0 * (1 - r/100)^t

PLEASE MARK BRAINLIST


Después de analizar un conjunto de datos se encontró que la desviación estandar es igual a 9, se requiere conocer
ahora, el valor de la varianza

Answers

The variance of the data-set in this problem is given as follows:

81 units squared.

How to obtain the variance of the data-set?

The standard deviation for the data-set in this problem is given as follows:

9 units.

The relation between the standard deviation and the variance is that the standard deviation is the square root of the variance, hence the variance is the square of the standard deviation.

Hence the variance of the data-set in this problem is given as follows:

(9 units)² = 81 units².

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33% of adults say cashews are their favorite kind of nut. You randomly select 12 adults and ask each to name his or her favorite nut. Find the probability that the number who say cashews are their favorite nut is​ (a) exactly​ three, (b) at least​ four, and​ (c) at most two. If​ convenient, use technology to find the probabilities. Due Saturday night

Answers

The cumulative probability is

P(at most 2 ) = 0.187560896 [answer]

How to solve

a)

Note that the probability of x successes out of n trials is

P(n, x) = nCx p^x (1 - p)^(n - x)

where

n = number of trials = 12

p = the probability of a success = 0.33

x = the number of successes = 3

Thus, the probability is

P ( 3 ) = 0.21509867 [answer]

***********

b)

Note that P(at least x) = 1 - P(at most x - 1).

Using a cumulative binomial distribution table or technology, matching

n = number of trials = 12

p = the probability of a success = 0.33

x = our critical value of successes = 4

Then the cumulative probability of P(at most x - 1) from a table/technology is

P(at most 3 ) = 0.402659566

Thus, the probability of at least 4 successes is

P(at least 4 ) = 0.597340434 [answer]

***************

c)

Using a cumulative binomial distribution table or technology, matching

n = number of trials = 12

p = the probability of a success = 0.33

x = the maximum number of successes = 2

Then the cumulative probability is

P(at most 2 ) = 0.187560896 [answer]

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Rewrite the following in the form log(c). log(5) + log(2)

Answers

Answer:

log(10)

Step-by-step explanation:

We can use the product property for logarithms:

log(a)+log(b)=log(ab)

In our case, a=5 and b=2. We can multiply a and b now to get the new number we're taking the logarithm of.

log(2)+log(5)=log(2×5)=log(10)

Computer systems analysts
Database administrators
Computer software engineers,
systems software
Gaming and sports book writers
and runners
Environmental science and
protection technicians, including
health
Manicurists and pedicurists
Physical therapists
Physician assistants
504
650
119 154
350 449
18 24
36
78
47
100
220
29.0
28.6
28.2
28.0
28.0
27,6
27.1
146
34
99
5
10
22
47
18
Bachelor's degree
Bachelor's degree
Bachelor's degree
Short-term on-thi
Associate degree
Postsecondary vocational award
Master's degree
Master's degree
173
66
83
27.0
Based on the above table, what is the fastest growing listed occupation for those without a college degree?
a. Gaming and sports book writers and runners
b. Dental assistants
c. Marriage and family therapists
d. Manicurists and pedicurists

Answers

Based on the above table , the fastest growing listed occupation for those without a college degree is Gaming and sports book writers and runners.

Therefore option A is correct.

What is a college degree?

The college degree is described as a qualification awarded to students after completing the requirements for a specific course of study of which the two most common types of degrees are the Bachelor of Arts and Bachelor of Science.

With reference to the table, the occupations that do not require a college degree are:

Gaming and sports book writers and runnersEnvironmental science and protection technicians, including healthManicurists and pedicurists

We were able to conclude that Based on the above table , the fastest growing listed occupation for those without a college degree is Gaming and sports book writers and runners with a rate of 24.6%.

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What is the amount of your employer's contributions if the company matches 50% of the first 4% of your salary, and you make $72,000 a year?

O $1,440.00
O $1,000.00
O $2,880.00
O $36,000.00

Answers

To calculate this, we need to find 4% of the salary and then find 50% of that amount.

4% of $72,000 is:

$72,000 x 0.04 = $2,880

50% of $2,880 is:

$2,880 x 0.5 = $1,440

Therefore, the employer's contribution would be $1,440.00. Option A is the correct answer.
To calculate this, we need to find 4% of the salary and then find 50% of that amount.
4% of $72,000 is:
$72,000 x 0.04 = $2,880
50% of $2,880 is:
$2,880 x 0.5 = $1,440
Therefore, the employer's contribution would be $1,440.00. Option A is the correct answer.

Simplify the expression: 8y + 4 - 3y + 12

Answers

5y + 16 is the answer if i’m not mistaken

Will give Brainliest and points.
A fair, 6-sided die is rolled 60 times. Predict how many times it will land on a number greater than 2.

60
40
20
two thirds

Answers

40

This is because 4/6 is = 40/60

Joey's current monthly expenses include a rent payment of $1,100, a $178 car payment, and a combined minimum payment of $220 for his credit card debt. His current gross monthly income is $3,600. If Joey moves to a new apartment, what is the maximum monthly rent payment he can make and still maintain a DTI ratio of 36%?
a.
$702
b.
$898
c.
$922
d.
$960

Answers

Based on Joey's debt-to-income ratio, the maximum monthly rent payment he can make and still maintain the DTI ratio would be; b. $898.

WE are given that Joey has a DTI ratio of 36% which means that his maximum debt payment should be 36% of his income.

This amount would be:

= DTI x monthly income

= 36% x 3,600

= $1,296

Maximum monthly rent can be found as:

= Maximum monthly debt payment - Car payment - Credit card payment

= 1,296 - 178 - 220

= $898

In conclusion, option B is correct.

Find out more on DTI ratios at ;

brainly.com/question/24814852.

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