$1.$Caloulating the Amount for a Home Equity Loan. A few years ago, Michael purchased a

home for $$200,000.$ Today, the home is worth $$300,000.$ His remaining mortgage balance is

$$100,000.$ Assuming Michael can borrow up to $80$ percent of the market value of his home,

what is the maximum amount he can borrow?

$3.$ Calculating the Debtto$-$Equily Ratio. Robert owns a $$140,000$ townhouse and still has an

unpaid mortgage of $$110,000.$ In addition to his mortgage, he has the following liabilities:

Visa $$565$

MasterCard $480$

Discover card $395$

Education loan $920$

Personal bank loan $800$

Auto loan $4,250$

Total $$7,410$

Roberts net worth $($not including his home$)$ is about $$21,000.$ This equily is in mutual funds, an automobile, a coin collection, fumiture, and other personal property. What is

Robert's debtrto$-$equily ratio? Has he reached the upper limit of debt obligations? Explain.

$5.$ Calculating Debt Payments$-$to$-$Income Ratio. Suppose that your monthly net income is $$2,400.$

Your monithly debt payments include your student loan payment and a gas credit card. They total

$3860.$ What is your debt payments$-$to$-$

income ratio?