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Problem 7-6 Calculating the GDS and TDS ratios [LO3] Calculate the Gross Debt Service (GDS) and the Total Debt Service (TDS) ratios for the

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Problem 7-6 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 = $2,200 Property taxes = $220 Heating costs $135 Other housing costs $90 Personal loan payment = $170 Car loan payment $220 Credit card payment = $170 Gross monthly household income $8,800 Click here for the Excel Data File Gross Debt Service Total Debt Service

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