Solve

You have taken an application on a new client and are now working out the numbers. Based on the application your client has a gross monthly income of $4,750.00 and monthly expenses of: - $350 for car insurance . a $250 monthly Visa payment . a monthly mortgage payment of $1,355.49 . heating costs of $75 per month . an RRSP contribution of $50 per week . property insurance of $65 per month . annual property taxes of $2,400 . life insurance payment of $55 per month. Your client thinks that his TDS ratio is 41%. Given this information which of the following statements is correct? Select one: a, Your client is correct b. The TDS should be 38% c. The TDS should be 39% d. The TDS should be 40%