Calculate their debt limit

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Reference no: EM131307302

The Smith family has a gross income of $85,000 a year and they pay the following bills:

annual taxes:	$19,550
monthly mortgage	$1,850
credit card 1	$320 a month
credit card 2	$190 a month
personal loans:	$113 twice a month
department store charge account	$65.00 a month

Calculate their Debt limit.

Reference no: EM131307302

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