5) A few years ago, Michael Tucker purchased a home for $122000. Today the home is worth $172000. His remaining mortgage balance is $52000.

Assuming Michael can borrow up to 68 percent of the market value of his home, what is the maximum amount he can borrow?

6) Kim Lee is trying to decide whether she can afford a loan she needs in order to go to chiropractic school. Right now Kim is living at home and works in a shoe store, earning a gross income of $2910 per month. Her employer deducts a total of $150 for taxes from her monthly pay. Kim also pays $60 on credit card debt each month. The loan she needs for chiropractic school will cost an additional $140 per month.

Calculate her debt payments-to-income ratio with college loan. Don't forget to convert your answer to a percentage....... I would greatly appreciate the assistance with both questions and thank you for the help.