Question
It is time for Barry and Sarah to meet with the bank to finalize some ratios regarding the financing of their home purchase. Calculate their
It is time for Barry and Sarah to meet with the bank to finalize some ratios regarding the financing of their home purchase. Calculate their Total Debt Service (TDS) ratio based on the information provided.
Barry's annual gross salary: $90,000
Sarah's annual gross salary: $91,000
Monthly mortgage payment: $2,150
Annual property taxes: $2,400
Monthly heating: $160
Annual condo fees $600
Barry's monthly student loan $70
Sarah's monthly car loan $125
Monthly furniture loan $30
Select one:
a.
35%
b.
20%
c.
32%
d.
25%
e.
18%
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Reforming The Governance Of The Financial Sector
Authors: David Mayes , Geoffrey Wood
1st Edition
0415686849, 978-0415686846
