Question
Use Worksheet 6.1 . Alyssa Clark is evaluating her debt safety ratio. Her monthly take-home pay is $3,700. Each month, she pays $280 for an
Use Worksheet 6.1. Alyssa Clark is evaluating her debt safety ratio. Her monthly take-home pay is $3,700. Each month, she pays $280 for an auto loan, $130 on a personal line of credit, $60 on a department store charge card, and $100 on her bank credit card. Complete Worksheet 6.1 by listing Allysa's outstanding debts.
1. Calculate her debt safety ratio. Round the answer to 1 decimal place. Enter debt safety ratio as a percentage. __________ %
2. Given her current take-home pay, what is the maximum amount of monthly debt payments that Alyssa can have if she wants her debt safety ratio to be 10.0%? Round the answer to the nearest dollar. __________$
3. Given her current monthly debt payment load, what would Alyssa's take-home pay have to be if she wanted a 10.0% debt safety ratio? Round the answer to the nearest dollar. ___________$
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