Question: Joe and Marla are applying for a $ 4 5 , 0 0 0 loan to purchase a car. The five - year loan will

Joe and Marla are applying for a $45,000 loan to purchase a car. The five-year loan will have a monthly payment of $500. They own their condo and monthly payments include their mortgage of $2,800, their condo fees of $600, and their heating expense of $100. Their property taxes are $6,000 per year. Joe and Marla earn gross salaries of $90,000 and $150,000, respectively. What is their Total Debt Service Ratio? Keep your answer as a whole number and round to 2 decimal places.

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