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Check my work 1 Jamie Lee Jackson, age 27 ultime student and part-time bakery employee, has just moved into a bungalow-style unfurnished home of her own. The house is only a one-bedroom, but the rent is manageable and has plenty of room for Jamie Lee. She decided to give notice to her roommate that she would be leaving the apartment and the shared expenses after the incident with the stolen checkbook and credit cards a few weeks back. Jamie had to dip in to her emergency savings account to help cover the deposit and moving expenses as she had not planned to move out of the apartment and be on her own this soon Jamie is in need of a few appliances as there is a small undey room but no washer or dryer, nor is there a refrigerator in the kitchen She will also need a living room set and a television because the only furniture she currently has is a bedroom suite, James excited to finally have the say in how she will furnish the bungalow, and she began shopping for her home as soon as the lease was signed The home appliance store. Acme Home Goods was the first stop as Jamie chose a stacking washer and dryer set which would comfortably in the laundry space provided. A stainless steel regerator was her next choice and the salesperson quickly began to write up the order Jamie was informed that she opened up a credit card through the appliance store that she would receive discount of 10% off her total purchase. As she waited for her credit to be approved she decided to continue shopping for her other needed items force Living room furniture was next on the list as Jamie went to the local home furnishings retailer who had endless choices of complete sofa sets that included the coffee and end tables as well as matching lamps, Jamie chose a contemporary style stand again, was offered the tempting deal of opening a credit card through the store in exchange for a percentage off her purchase and free delivery On to the big box retailer where Jamle then chose a 521080p LED HDTV For the third time, a percentage off her first purchase at the big box retailer was all that was needed to get Jamie to sign on the dotted line of the credit card application Jamie Lee wants to determine if she can afford the monthly payments for all of her purchases before she completes the application process. Use the information below to determine her debt payment to income ratio Current Financial Situation Assets Checking account Income: 52650 Gross monthly salary Netcome $3,600 52145 sota sets that included the coffee and end tables as well as matching lamps.. offered the tempting deal of opening a credit card through the store in excha On to the big box retailer where Jamie then chose a 52" 1080p LED HDTV. FC big box retailer was all that was needed to get Jamie to sign on the dotted lin Jamie Lee wants to determine if she can afford the monthly payments for all process. Use the information below to determine her debt payment-to-incom DK t $3,600 $2,345 hoes $520 $95 $70 Current Financial Situation Assets: Income: Checking account $2,650 Gross monthly salary Savings account $8,900 Net income Emergency fund savings account $4,400 Monthly Expenses: IRA balance $580 Rent obligation Car $4,500 Utilities/Electric Liabilities: Utilities/Water Student loan $12,500 Utilities/Cable (Jamie is still a full-time student, so no Food payments are required on the loan until Gas/Maintenance after graduation) Credit card payment Acme Home Goods $2.400 Acme Home Goods (Washer/dryer and refrigerator) Local Home Furnishings Local Home Furnishings $2,500 Big Box Store (Sofa set) Big Box Store $1,900 (52" LED HDTV) $85 $210 $215 $0 $56 $76 $44 Automobile, Education, Personal, and Installment Loans Financial Institution or Description Account Number Student loan Current Balance Monthly Payment Current Balance Monthly Payment Charge Accounts and Credit Cards Financial Institution or Description Account Number Acme Home Goods Local Home Furnishings Big Box Store Other Loans (Overdraft Protection, Home Equity, Life Insurance Loan) Financial Institution or Description Account Number Current Balance Monthly Payment $ 0 $ Totals Debt payment-to-Income ratio = Total monthly debt payments Net (after-tax) income

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