Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

i got 1.93 the first time and even tried to round tk 1.94 and still rings as incorrect Robert owns a $168,000 town house and

i got 1.93 the first time and even tried to round tk 1.94 and still rings as incorrect
image text in transcribed
Robert owns a $168,000 town house and still has an unpaid mortgage of $122.000. In addition to his mortgage, he has the following liabilities $ Liabilities Visa MasterCard Discover card Education loan Personal bank loan Auto loan Total 616 536 492 932 809 4,560 7,945 $ Robert's net worth including his home) is about $29,100. This equity is in mutual funds, on automobile, a coin collection, furniture and other personal property (a) What is Robert's debt-to-equity ratio? (Round your answer to 2 decimal places.) Debt-to-equity ratio (6) Hos he reached the upper limit of debt obligations? Yes No

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Economics

Authors: Frank J. Fabozzi, Edwin H. Neave, Guofu Zhou

1st Edition

0470596201, 9780470596203

More Books

Students also viewed these Finance questions

Question

=+6. What five driving forces make CSR more relevant today?

Answered: 1 week ago