Question: eBook Chapter 6 Financial Planning Exercise 3 Evaluating debt safety ratio Use Worksheet 6.1. Chloe Young is evaluating her debt safety ratio. Her monthly take

 eBook Chapter 6 Financial Planning Exercise 3 Evaluating debt safety ratio

eBook Chapter 6 Financial Planning Exercise 3 Evaluating debt safety ratio Use Worksheet 6.1. Chloe Young is evaluating her debt safety ratio. Her monthly take home pay is $3,890. Each month, she pays $360 for an auto loan $90 on a personal line of credit, $35 on a department store charge card, and $60 on her bank credit card. Complete Worksheet 6.1 by listing Chloe's outstanding debts. a. Calculate her debt safety ratio. Round the answer to 1 decimal place. Enter debt safety ratio as a percentage. b. Given her current take-home pay, what is the maximum amount of monthly debt payments that Chloe can have if she wants her debt safety ratio to be 10.0%? Round the answer to the nearest dollar. c. Given her current monthly debt payment load what would Chloe's take-home pay have to be if she wanted a 10.0% debt safety ratio7 Round the answer to the nearest dollar

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