If James has a house worth $500,000, other assets of $50,000, a mortgage loan of $150,000, income

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If James has a house worth $500,000, other assets of $50,000, a mortgage loan of $150,000, income after tax of $80,000, an annual surplus of $5,000 a year and mortgage repayments of $20,000 a year.

Calculate James' Debt Service ratio (to the nearest percent)?

Related Book For answer-question

Taxation Of Individuals And Business Entities 2016

ISBN: 9781259334870

7th Edition

Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver

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Posted Date: May 02, 2023 12:48 AM

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If James has a house worth $500,000, other assets of $50,000, a mortgage loan of $150,000, income

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Taxation Of Individuals And Business Entities 2016

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