ANSWER THESE QUESTIONS TO Demonstrate Your Understanding of the Debt-to-Income Ratio using the following case study information. Lyra applying for a mortgage to purchase a house. She needs to calculate her debt-to-income ratio to get a better idea of whether or not a mortgage lender will consider her as a mortgage applicant. Lyra has a gross monthly income of $5,500 and she has $1,650 withheld from her monthly paychecks to pay for taxes and retirement contributions. Lyra currently pays $400 an month on her student loans, $275 a month on an auto loan payment, and $81 a month on medical debt to pay for a surgery that she needed. Lyra expects that her monthly mortgage payment on her dream home will be $1,497. Answer the following four questions about Lyra's debt-to-income situation. Use the examples and formulas from the Word document you downloaded from the Section 6.3 page to help you. Question 1 0.5 pts What amount equals Lyra's monthly debt that serves as the numerator in her debt-to-income ratio excluding her future mortgage payment? Question 2 0.75 pts Calculate Lyra's debt-to-income ratio without her future mortgage payment. List the answer you receive from your calculator as a decimal rounded to the hundredths place. Do not convert to a percentage. Question 3 0.75 pts What is Lyra's debt-to-income ratio with her future mortgage payment included? List as a decimal rounded to the hundredths place. List the answer you receive from your calculator as a decimal rounded to the hundredths place. Do not convert to a percentage