Louise Gendron's monthly gross income is $4,200. Her employer withholds $630 in federal and provincial income taxes, $198.68 towards the Canada Pension Plan, and $56.67 for EI contributions. Louise contributes $120 per month to her RRSP. Her monthly credit payments for Visa and mastercard are $77 and $67, respectively. Her monthly payment on an automobile loan is $435. What is Louise's debt payment to income ratio?

 

Answer rating: 100% (QA)

To calculate Louise Gendrons debt payment to income ratio we need to first determi... View the full answer