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Steve pays 6% interest on a mortgage of $720,000. The repayments are $4,300 per month. His gross income is $152,000 p.a. plus super of $13,700.
Steve pays 6% interest on a mortgage of $720,000. The repayments are $4,300 per month. His gross income is $152,000 p.a. plus super of $13,700. His taxation and Medicare liability totals $46,500 pa. Calculate Steve's debt service ratio (to the nearest percentage point).
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