In Exercise, read the requirements and each applicant’s qualifications for obtaining a loan.

a) Identify which of the applicants would qualify for the loan.

b) For the applicants who do not qualify for the loan, explain why.

To qualify for a loan of $40,000, an applicant must have a gross income of $28,000 if single, $46,000 combined income if married, and assets of at least $6,000.

Mrs. Rusinek, married with three children, earns $42,000. Mr. Rusinek does not have an income. The Rusineks have assets of $42,000.

Mr. Duncan is not married, works in sales, and earns $31,000. He has assets of $9000.

Mrs. Tuttle and her husband have total assets of $43,000. One earns $35,000, and the other earns $23,500.