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PLEASE EXPLAIN HOW YOU DO THE PROBLEM. THANK YOU. Lori is an assistant to a patent lawyer and earns $40,000. She pays $500 per month

PLEASE EXPLAIN HOW YOU DO THE PROBLEM. THANK YOU.

Lori is an assistant to a patent lawyer and earns $40,000. She pays $500 per month on her mortgage, her homeowners insurance is $2,000 per year, her taxes are $2,000 per year, her utilities are $5,000 per year and she pays $4,000 in credit card bills each year. Calculate her housing ratio 1.

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