Patty Currently Has $9,000 in Monetary Assets

question 42

Multiple Choice

Patty currently has $9,000 in monetary assets. Her total annual living expenses are $36,000 per year. She has a $12,000 balance on her car loan and she has $45,000 in equity in her house. What is her month's living expenses covered ratio?

• A) 1.125 times
• B) 3.75 times
• C) 3.0 times
• D) There is not enough information to answer this question

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Definitions:

Independent Intelligences

A theory suggesting that intelligence is not a single ability but comprises multiple independent abilities.

Specific Mental Abilities

Distinct skills or capabilities involving cognitive functions, such as memory, reasoning, or problem-solving, that vary from person to person.

Cultural Context

The set of social, historical, and cultural circumstances surrounding an event, story, or development, influencing its interpretation or perception.

Successful Intelligence

A theory that intelligence involves a combination of analytical, creative, and practical abilities that enable one to achieve personal success.