. James, 35 years old, would like to save as much money as possible for the down-payment of a house which he would like to purchase in 3-years. Currently he rents an apartment for $4,000. per month, is unmarried with additional monthly expenses totaling $6000. This includes a car loan with monthly payments of $1,500. His income per month is $15,000. He prefers a condominium but is open to other options. The price range for a condo hes interested in is $2,000,000. -$2,500,000.

d. Calculate James debt-to-service ratio. Comment on the results.