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PFIN 1115-Jake Cassidy has a monthly take-home pay

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June 7th, 2024

Jake Cassidy has a monthly take-home pay of $1,685; he makes payments of $410 a month on his outstanding consumer credit (excluding the mortgage on his home). How would you characterize Jake’s debt burden? What if his take-home pay were $850 a month and he had monthly credit payments of $150?

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