Calculating the Amount for a Home Equilty 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 boriow up to $80$ percent of the market value of hits home,

What is the maximum amount he can borrow?

Caleulating the Debtro$-$Equily Ratio. Robert owns a $$140,000$ townhouse and still has an unpaid motgage of $$110,000.$ In addition to his mortgage, he has the following liabilities:

Vsa $5565$

Mastercard $480$

Discover card $395$

Etucation loan $920$

Persenal bankloan $800$

Auto loan $4,250$

Total $97\mathrm{.}410$

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

Roberts debte$-$equily ratio? Has he reached the upper limit of debt obllgations? Explain.

$6.$ Calculating Debt Paymento$-$to$-$hncome Ratio. Suppose that your montily net heome is $$2,400.$

Your monthly debt payments includo your student toan payment and a gas credit card. They total

$$360.$ What la your dobt payments$-$to income ratio?