PLEASE ANSWER ASAP **NEED STEP-BY-STEP**

You work for a lending institution and are tasked with whether or not to approve a home loan. All applicants are required to have a 20% down payment, and the standard 28/36 ratio is used

The loan application is for $230,000. You see that the applicant has an annual salary of $83,000 and a savings account balance of $50,000. The applicant also has a car payment of $315, a student loan of $140 and a boat loan of $96.

How likely are you to approve the loan?

a. Very likely; recurring debt is considerably less than what is allowed.

b. Somewhat likely; recurring debt is very close to what is allowed.

c. Not likely; recurring debt is higher than what is allowed.

d. There is not enough information given to determine the answer.

**The answer is B, but I don't really understand how to get there**

Profits from using currency options and futures. on july 2, the two-month futures rate of the mexican peso contained a 2 percent discount (unannualized). there was a call option on pesos with an exercise price that was equal to the spot rate. there was also a put option on pesos with an exercise price equal to the spot rate. the premium on each of these options was 3 percent of the spot rate at that time. on september 2, the option expired. go to the oanda. com website (or any site that has foreign exchange rate quotations) and determine the direct quote of the mexican peso. you exercised the option on this date if it was feasible to do so. a. what was your net profit per unit if you had purchased the call option? b. what was your net profit per unit if you had purchased the put option? c. what was your net profit per unit if you had purchased a futures contract on july 2 that had a settlement date of september 2? d. what was your net profit per unit if you sold a futures contract on july 2 that had a settlement date of september 2