(c) 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? (4 marks) (d) Kelly has health insurance coverage that pays 80 percent of out-of-hospital expenses after a $500 deductible. If Kelly has doctor and prescription medication expenses of $1,100, what amount would the insurance company pay? (4 marks) (e) You are the wage earner in a "typical family," with $60,000 gross annual income. Use the easy method to determine how life insurance you should carry? (4 marks) (c) 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? (4 marks) (d) Kelly has health insurance coverage that pays 80 percent of out-of-hospital expenses after a $500 deductible. If Kelly has doctor and prescription medication expenses of $1,100, what amount would the insurance company pay? (4 marks) (e) You are the wage earner in a "typical family," with $60,000 gross annual income. Use the easy method to determine how life insurance you should carry? (4 marks)