Mike and Mary Jane Lee have a yearly income of $83,427 and own a house worth $124,800, two cars worth a total of $25,290 and furniture worth $16,003. The house has a mortgage of $63,736 and the cars have outstanding loans of $2,734 each. Utility bills, totaling $208 for this month, have not been paid. Mike and Mary Jane's debt ratio is %?. Round to two decimal places.
Mike and Mary Jane Lee have a yearly income of $83,427 and own a house worth $124,800, two cars worth a total of $25,290 and furniture worth $16,003. The house has a mortgage of $63,736 and the cars have outstanding loans of $2,734 each. Utility bills, totaling $208 for this month, have not been paid. Mike and Mary Jane's debt ratio is %?. Round to two decimal places.
Chapter3: Income Sources
Section: Chapter Questions
Problem 79P
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Mike and Mary Jane Lee have a yearly income of $83,427 and own a house worth $124,800, two cars worth a total of $25,290 and furniture worth $16,003. The house has a mortgage of $63,736 and the cars have outstanding loans of $2,734 each. Utility bills, totaling $208 for this month, have not been paid.
Mike and Mary Jane's debt ratio is %?. Round to two decimal places.
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