After graduating from Concordia, Paulo successfully completed the mandatory real estate training and certification examination t become a real estate agent. He was hired byRE/MAX, the real estate agency where he sold his first home in the first month, earning him a commission of $30,000! He is ready to close on the sale of a second condo and earnanother $25,00O! All of his disposable income is used to pay for his new Tesla, his debts, and his living expenses. Based on the information below, what is Paulo's Debt-to-Asset ratio?DescriptionAmountsTesla auto (amount is net of theelectric car rebate)$52,900Auto loan (5 years remaining)$32,700Tuition loan for Concordia$3,200degreeSavings account$1,050Chequing account$550Utility bills (heating, internet -$220/monthpaid monthly)Tax-Free Savings Account$12,340(TFSA)Groceries (paid monthly)$400/monthRent (paid monthly)$1,900/month A25.01%55.98%53.71%51.02%E47.24%

Debt to Asset ratio is the proportion of Debt to Total assets of a person or business. It is…

Answered: After graduating from Concordia, Paulo…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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