Question: Based on the previous question where Donna has an annual gross income of $90,000. Her monthly mortgage payment is $1,900. Last year she paid $2,600

Based on the previous question where Donna has an annual gross income of $90,000. Her monthly mortgage payment is $1,900. Last year she paid $2,600 in property taxes. Her other debt obligations are $240/month for a car loan repayment and a minimum payment of $210/month on her credit card balance of $4,200. What is the Gross Debt Service ratio of Donna?

a) 28.2%

b) 34.2%

c) 31.4%

d) 36.1%

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!