for math guruu

DISCUSSSION 1

Answer the journal prompts according to the scenario below:

Joe-Bob wants to buy a car and will need to take out a loan in order to make the purchase. His current monthly income is $3,500 per month. His mortgage payment is $900 per month, and his student loan payment is $350 per month.

Note: You do not need to take taxes into consideration for this journal.

• According to the affordability formulas given, can he afford to take out another loan?
• When should he follow the affordability formulas? In what cases should he not?
• How could taking out the car loan impact his other priorities?

DISCUSSION 2

COMPLETE THE WORKSHEET BELOW THAT IS ATTACHED