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  according to the affordability formulas given can he afford to take out another loan?  when should he follow the affordability formulas? In what case should he not?  how could taking out the car loan impact his other priorities?  what is the affordability formula I need to use as well

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Q: Calculate the monthly payment for each.

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Q: minimum price Hank would need to receive for his car

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Q: After visiting several automobile dealerships, Richard selects the car he wants. He likes its…

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Q: Ellen is shopping for a truck and has up to $325 to spend biweekly at a dealership in Selkirk, MB…

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Q: After visiting several automobile dealerships, Richard selects the car he wants. He likes its…

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Q: Ivanna is taking out an amortized loan for $37,000 to buy a new car and is deciding between the…

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Q: Jolene and her husband are looking to purchase a house. The are looking to get a 15-year mortgage at…

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Q: Phil can afford $240 a month for five years for a car loan. If the interest rate is 8.5 percent, how…

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Q: A young engineer wishes to buy a house, but she can only afford payments of 500 dollars, 30 year…

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A: Note: There are two scenarios in this post. The first has been discussed below.

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A: Calculate the monthly payment as follows:

Q: What is the front end ratio and will they be able to qualify?

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A:

Cash and Liquid Asset Management

Cash management is the process of controlling cash inflow & cash outflow, managing the cashflows inside the business, and utilizing the cash for business operation at any point in time. A business has to maintain a certain level of cash to meet various financial obligations. Cash management is essential because businesses must utilize the cash to generate maximum profit. Cash management also ensures to maintain maximum liquidity in the business.