Question
Use Worksheet 6.1. Alyssa Clark is evaluating her delbt safety ratio. Her monthly take-home pay is $3,250. Each month, she pays $300 for an auto
Use Worksheet 6.1. Alyssa Clark is evaluating her delbt safety ratio. Her monthly take-home pay is $3,250. Each month, she pays $300 for an auto loan, $180 on a personal line of credit, $95 on a department store charge card, and $140 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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