Kevin is living life in Banff, Alberta. He works at a large hotel during the...
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Kevin is living life in Banff, Alberta. He works at a large hotel during the year. On his days off, in the summer he hikes and camps while in the winter he skis. He was recently promoted to manager and now earns $80,000. All of his disposable income is used to pay for his new Jeep, his debts, and his living expenses. What is Kevins Debt-to-Asset ratio?
| Description | Amounts |
|---|---|
| Jeep | $44,800 |
| Jeep loan (5 years remaining) | $38,650 |
| Tuition loan | $3,800 |
| Savings account | $2,150 |
| Chequing account | $850 |
| Utility bills (heating, internet paid monthly) | $325/month |
| Tax-Free Savings Account (TFSA) | $14,340 |
| Food (paid monthly) | $570/month |
| Rent (paid monthly) | $1,200/month |
Select one:
a.
55.78%
b.
68.31%
c.
61.02%
d.
65.01%
e.
57.26%
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