Question: week 2 Summative Assessment: Personal Goals Question 14 Using the following information about the family's assets and liabilities, calculate the debt ratio: checking account $3,000

week 2 Summative Assessment: Personal Goals

Question 14

Using the following information about the family's assets and liabilities, calculate the debt ratio:

checking account $3,000

saving account $13,000

credit card balance $5,500

utility' bill $500

home $320,000

mortgage (30 years) $210,000

car $ 25,000

car loan (60month ) $ 18,000

student loan (7years) $25,000

household items $15,000

retirement account $64,000

other assets $39,000

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