Mike and Mary Jane Lee have a yearly income of $83,047 and own a house worth $122,400, two cars worth a total of $24,625 and furniture worth $15,016. The house has a mortgage of $64,740 and the cars have outstanding loans of $3,643 each. Utility bills, totaling $313 for this month, have not been paid. Mike and Mary Jane's debt ratio is %?. Round to two decimal places.
Mike and Mary Jane Lee have a yearly income of $83,047 and own a house worth $122,400, two cars worth a total of $24,625 and furniture worth $15,016. The house has a mortgage of $64,740 and the cars have outstanding loans of $3,643 each. Utility bills, totaling $313 for this month, have not been paid. Mike and Mary Jane's debt ratio is %?. Round to two decimal places.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Mike and Mary Jane Lee have a yearly income of $83,047 and own a house worth $122,400, two cars worth a total of $24,625 and furniture worth $15,016. The house has a mortgage of $64,740 and the cars have outstanding loans of $3,643 each. Utility bills, totaling $313 for this month, have not been paid.
Mike and Mary Jane's debt ratio is %?. Round to two decimal places.
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