Credit Card B (For Clothes) $ 5,000 Nate's Student Loan Balance (Federal) $55,000 Cash on Hand $ 1,200 Personal Property $ 3,000 Credit Card D (For Misc. Items) $ 2,100 Nate's - Car Loan Balance $25,000 Savings Account $ 25 Nate's Car $22,000 Credit Card A (For Groceries/Restaurants) $ 2,500 Checking Account $ 2,300 Nate's 401(k) $ 2,500 Medical/Dental Bills $ 3,000 Credit Card C (For Travel) $ 4,200 Annual Income & Expenses Nate's Gross Wages $60,000 Gifts to Family $ 1,200 Renter's Insurance $ 600 Auto Insurance $ 3,600 Income Taxes $ 9,000 Food (For Groceries/Restaurants) $ 4,500 Auto Maintenance $ 2,000 Charitable contributions $ 500 Auto Loan Payment $ 5,297 Student Loan Payment $ 7,494 Phone $ 1,500 Fuel $ 2,000 Medical Expenses $ 1,200 Medical Bill Payments $ 2,400 Clothing $ 3,000 Miscellaneous $ 3,500 Internet $ 750 Medical Insurance Premiums $ 6,300 Credit Cards

(sum of ALL credit card payments) $ 4,200 Entertainment $ 2,400 Gym Memberships 3000 Parking 3000 Nate's 401(k) contribution $ 1,200 debt ratio

Answer rating: 100% (QA)

To calculate Nates debt ratio we need to determine his total liabilities and total a... View the full answer