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please show all work so i can follow it 40. Milke e and Amanda have been reviewing their financial statements. Using the following information, they
please show all work so i can follow it
40. Milke e and Amanda have been reviewing their financial statements. Using the following information, they have asked you to determine their debt safety ratio and advise them about assuming more debt in the future. Monthly take-home income Monthly credit payments $4,100 $100 $400 $600 Monthly auto loan payments Monthly student loan payments a. Mike and Amanda have a manageable debt ratio and can assume more debt. b. Mike and Amanda have a debt ratio that is very low and can consider assuming more debt. Mike and Amanda have a debt ratio around the danger range and should wait before assuming more debt. Mike and Amanda have a debt ratio that is very high and should assume no more debt. It is impossible to tell what they should do based on the information given. c. eStep by Step Solution
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