In Order to Minimize the Difficulty Associated with Meeting Monthly

question 68

Multiple Choice

In order to minimize the difficulty associated with meeting monthly loan payments,the debt service ratio should be

• A)above 50%.
• B)below 50%.
• C)at 35%.
• D)below 35%.
• E)above 20%.

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Definitions:

Poverty

A socio-economic condition characterized by a lack of means to meet basic personal needs such as food, clothing, and shelter.

Human Capital

The collective skills, knowledge, or other intangible assets of individuals that can be used to create economic value for the individuals, their employers, or their community.

Social Capital

Social capital refers to the networks of relationships among people who live and work in a particular society, enabling that society to function effectively through mutual trust and cooperation.

Cultural Capital

Refers to the non-financial social assets that promote social mobility beyond economic means, including education, intellect, style of speech, dress, or physical appearance.