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Problem 7-4 Calculating the GDS and TDS ratios (LO3] Calculate the Gross Debt Service (GDS) and the Total Debt Service (TDS) ratios for the following

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Problem 7-4 Calculating the GDS and TDS ratios (LO3] Calculate the Gross Debt Service (GDS) and the Total Debt Service (TDS) ratios for the following data (Round your answers to 2 decimal places. Omit the "%" sign in your response.) Monthly mortgage payment = $2,500 Property taxes = 5280 Heating costs $195 Other housing costs $150 Personal loan payment $230 Carloan payment $280 Credit card payments $230 Gross monthly household income = $11.800 Gross Debt Service Total Debt Service

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