Your clients Sabine and Pavel live in a downtown condominium building near the lake. They pay monthly
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Question:
Your clients Sabine and Pavel live in a downtown condominium building near the lake. They pay monthly mortgage payments of $2,000 plus a condo fee of $450. They also pay $300 per month in property taxes, $500/mo car loan and monthly heating costs of $150. Sabine and Pavel have a combined annual gross income of $120,000 and their annual net income is $84,000.
What is their gross debt service ratio (GDSR)?
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