Use Worksheet 7.1. Every 4 months, Leo Perez takes an inventory of the consumer debts he has outstanding. His latest tally shows that he still owes $4,750 on a home Improvement loan (month payments of $375); he is making $75 monthly payments on a personal loan with a remaining balance of $900; he has a $2,250, secured single-payment loan that's due late next year; he has a $60,000 home mortgage on which he's making $550 monthly payments; he still owes $10,300 on a new car loan (monthly payments of $600); and he has a $1,200 balance on his Mastercard (minimum payment of $50), a $45 balance on his Shell credit card (balance due in 30 days), and a $1,400 balance on a personal line of credit ($60 monthly payments), a. Use Worksheet 7.1 to prepare an inventory of Leo's consumer debt. Type of Consumer Debt Creditor Currently Monthly Latest Balance Due Payment Auto loans $ Personal installment loans $ Home Improvement loan $ Single-payment loans $ Credit cards Mastercard $ $ (retail charge cards, bank cards, T&E Shell $ cards, etc.) Personal line of credit Totals $ $ b. Find his debt safety ratio, given that his take-home pay is $4,000 per month. Round the answer to 1 decimal place. 96 c. Would you consider this ratio to be good or bad? nuias Data Review View Tell X WI ' a. Av Paste 18 x B D E F G H NH 2. 3 Name AN INVENTORY OF CONSUMER DEBT Date October 15, 2020 Latest Balance Due $ + Current Monthly 6 Type of Consumer Debt Creditor Payment 7 Auto loans 1. $ 8 2. 9 3. 10 Education loans 1. 11 2. 12 Personal installment loans 1. 13 2. 14 Home improvement loan 15 Other installment loans 1. 16 2. 17 Single-payment loans 1. 18 2. 19 Credit cards (retail charge 1. 20 cards, bank cards, T&E 2. 21 cards, etc.) 3. 22 4. 23 5. 24 6. 25 7. 26 Overdraft protection line 27 Personal line of credit 28 Home equity credit line 29 Loan on life insurance 30 Margin loan from broker 31 Other loans 1. 32 2. 33 B. 34 Totals S 35 36 Debt safety ratio- Total monthly payments $ 37 x 100 Monthly take home pay "Leave the space blank if there is no monthly payment required on a loan (e.g., as with a 39 single payment or education loan). 40 41 42 *100 = 0.0% Aws 07.1