In Exercise, read the requirements and each applicant’s qualifications for obtaining a loan.

a) Identify which of the applicants would qualify for the loan.

b) For the applicants who do not qualify for the loan, explain why.

To qualify for a loan of $45,000, an applicant must have a gross income of $30,000 if single, $50,000 combined income if married, and assets of at least $10,000.

Mr. Argento, married with two children, earns $37,000.

Mrs. Argento earns $15,000 at a part-time job. The Argentos have assets of $25,000.

Ms. McVey, single, has assets of $19,000. She works in a store and earns $25,000.

Mr. Siewert earns $24,000 and Ms. Fox, his wife, earns $28,000. Their assets total $8000.