After graduating from Concordia, Paulo successfully completed the mandatory real estate training and certification examination t become a real estate agent. He was hired by RE/MAX, the real estate agency where he sold his first home in the first month, earning him a commission of $30,000! He is ready to close on the sale of a second condo and earn another $25,000! All of his disposable income is used to pay for his new Tesla, his debts, and his living expenses. Based on the information below, what is Paulos Debt-to-Asset ratio?

Description

Amounts

Tesla auto (amount is net of the electric car rebate) $52,900

Auto loan (5 years remaining) $32,700

Tuition loan for Concordia degree $3,200

Savings accounts $1,050

Chequing account $550

Utility bills (heating, internet paid monthly) $220/month

Tax-Free Savings Account (TFSA) $12,340

Groceries (paid monthly) $400/month

Rent (paid monthly) $1,900/month

Points: 51.02%

47.24%

25.01%

55.98%

53.71%