Identify the true and false statements about the federal poverty line.
all families above the federal poverty line can afford basic necessities.
the federal poverty line for an individual is $16,240.
the percentage of people living below the federal poverty line has never dipped below 10%.
the federal poverty line is an absolute measure.

Explanation:

The Federal Poverty Level is a type of measurement used to determine whether or not a certain family can receive certain federal benefits and programs. Based on this information we can say that the statements provided in the question are the following.

False: All families above the federal poverty line can afford basic necessities.

False: The federal poverty line for an individual is $16,240.  (it is $12,490 as of 2019)

True:

The percentage of people living below the federal poverty line has never dipped below 10%.

True: The federal poverty line is an absolute measure.

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month 1 start amount =$3287.90 interest=(3287.90x0.0145/12)3.97 total to pay=$3291.81 paid =$1200 balance =$2,091.87

month 2 starting amount= $2,091.87 interest =$25.28 total to pay =$2117.15 paid =$1200 balance $917.15

month 3 starting amount =$917.15 interest =$11.08 total to pay =$928.23 paid =$928.23 balance =$0 total to pay 1200+1200+928.23 = $3328.23 it will take 3 months to pay a total of $3328.23

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