What is Jerry's debt ratio if he has the following: Cash in bank: $4,000 Net worth:...
What is Jerry's debt ratio if he has the following:
Cash in bank: $4,000
Net worth: 44,000
Liabilities: 8,000
Current liabilities: $450
Monthly credit payments: $200
Monthly savings: $100
Monthly expenses: $400
Net pay: $1,200
Gross pay: 1,900
Homework Answers
| Debt ratio = Debt or Liabilities /Total Assets | ||
| Net Worth = Total Assets - Total Liabilities | ||
| 44000 = Total Assets - 8450 | ||
| Total Assets = 44000 + 8450 | ||
| Total Assets = | 52450 | |
| This must include cash also already so we need not add that again | ||
| Debt ratio = 8450/52450 | 0.1611 | |
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What is Jerry's debt ratio if he has the following:
Cash in bank: $4,000
Net worth:...
What is Jerry's saving ratio if he has the following: Cash in bank: $4,000 Net worth:...
What is Jerry's saving ratio if he has the following: Cash in bank: $4,000 Net worth: 44,000 Liabilities: 8,000 Current liabilities: $450 Monthly credit payments: $200 Monthly savings: $100 Monthly expenses: $400 Net pay: $1,200 Gross pay: 1,900
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