inancial situation. a. Betty's assests are worth $240 000.0. She has a mortgage worth $120 000.00 and a car la $17 000. b. Jim has a house worth $350 000, investments worth $65 000 and a car worth $21 000. H. mortgage for $202 000, a car loan for $17000, a line credit with $9000 on it and two credi with a total of $7500 on them. c. Jay and Jane pay rent of $1500 per month, a total of $8000 in RRSP's and two cars, one w $16 000 and one worth $10 000. They have car loans worth $4000 and $6000 as well as s loans totally $12 000.

Maxine needs a car, and her grandmother doesnt want her to have to pay interest so they agree that Maxine will borrow $2,610 and pay her grandmother $145 each manth until she repays this loan in full, interest free. a. Write the model for the amount of money. M. that Maxine stil owes to her grandmother after t mont y 145t- 2010 y= 20101 - 145 M28101 + 146 M-145 + 2810 $1740 $217.50 $700 b. How much money wil Maxine still owe her grandmather after 1 year? C. After how long will Maxine have completely repaid her loan? $870 18 montha 2 yeare 22 montha 20 monthe & Moving to anothvet question will save this response. Questinn 11 af 17 MacBook Air

Question 3: A couple have saved $120,000 for the down payment on a home. Their monthly gross income is $8,000. They have no existing loans. Their bank has upper limit of 32% for GDS ratio and 40% for the TDS ratio. Allowing for property taxes of $150 per month and heating costs of $100 per month, what maximum monthly mortgage payment do the GDS and TDS ratios permit? What is the maximum mortgage loan for which the couple can qualify (Use a 30-year amortization and an interest rate of 1.6% compounded semi-annually for a five-year term)? What is the maximum amount they can pay for buying a house?

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