5. Given the following information, calculate the debt ratio percentage: Liabili
ID: 2647271 • Letter: 5
Question
5.
Given the following information, calculate the debt ratio percentage:
Liabilities = $24,500
Liquid assets = $4,900
Monthly credit payments = $800
Monthly savings = $760
Net worth = $72,500
Current liabilities = $1,600
Take-home pay = $2,300
Gross income = $3,500
Monthly expenses = $-2,040
Show work pls!!
5.
Given the following information, calculate the debt ratio percentage:
Liabilities = $24,500
Liquid assets = $4,900
Monthly credit payments = $800
Monthly savings = $760
Net worth = $72,500
Current liabilities = $1,600
Take-home pay = $2,300
Gross income = $3,500
Monthly expenses = $-2,040
Explanation / Answer
Debt Ratio = total Debt/ total Assets = 24,500/97,000 = 25.26%
Total Assets = Liabilities + Net Worth = 24,500 + 72,500 = 97,000
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