Given the Following, Calculate the GDS Ratio A) 28%
B) 41%
C) 50%
D) 59%
E) 64

question 24

Multiple Choice

Given the following, calculate the GDS ratio. All income and expense items are annual. $$\begin{array} { | l | r | l | r | } \hline \text { Gross income } & \mathbf { \$ 4 8 , 0 0 0 } & \text { Bank account } & \mathbf { \$ 1 , 0 0 0 } \\\hline \text { Net income } & \$ 38,000 & \text { Property taxes } & \$ 2,400 \\\hline \text { Heating } & \$ 3,600 & \text { Annual car payment } & \$ 4,200 \\\hline \text { Credit card balance } & \$ 2,500 & \text { Car loan balance } & \$ 10,000 \\\hline \text { Student loan payments } & \$ 2,400 & \text { Mortgage payments } & \$ 18,000 \\\hline\end{array}$$

• A) 28%
• B) 41%
• C) 50%
• D) 59%
• E) 64%

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