1) Katie and Tom are planning on having a family, and our looking to buy a house in Tallahassee, FL. They have been living with Katie's mom in the mean time, rent free, but need more space. Tom currently works as an assistant manager, getting paid a salary of $39500 a year. While Katie works as a tutor at the local schoolpart time 40 hours a month at $16/hr. They recently just bought a mini-van which they make monthly payments on of $370. When Tom was out of work they worked up credit card debt of $16,000, which they pay monthly payments of $471.Tom still pays 5% of his monthly income to his first wife foralimony payments. The monthly housing expense on the home they found is $1470 (PITI - Principal, Interest, Taxes, and Insurance).Calculate their total debt ratio?

2)Katie and Tom are planning on having a family, and just bought a house in Tallahassee, FL. Tom currently works as an assistant manager, getting paid a salary of $47000 a year. While Katie works as a tutor at the local schoolpart time 40 hours a month at $16/hr. Their monthly housing expenses are $1700.Calculate their mortgage debt ratio? (ENTER YOUR ANSWER AS A PERCENTAGE, SO .64 WOULD BE 64)