Calculate her debt safety ratio

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Reference no: EM131980617

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.

___________$

Reference no: EM131980617

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