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Ksenya-84 [330]
3 years ago
5

Robert Sampson owns a townhouse valued at $185,000 and still has an unpaid mortgage of $150,000. In addition to his mortgage, he

has the following liabilities:
Visa $ 755
MasterCard 380
Discover card 555
Education loan 3,900
Personal bank loan 650
Auto loan 6,000
Total $ 12,240
Robertâs net worth (not including his home) is about $39,000. This equity is in mutual funds, an automobile, a coin collection, furniture, and other personal property.
Required:
a. What is Robertâs debt-to-equity ratio?
Business
1 answer:
AlexFokin [52]3 years ago
8 0

Answer:

0.31

Explanation:

Given that,

Visa = $ 755

MasterCard = 380

Discover card = 555

Education loan = 3,900

Personal bank loan = 650

Auto loan =  6,000

Total debt  (not including mortgage) = $12,240

Net Worth (not including home) = $39,000

Robert's debt-to-equity ratio:

= Total debt ÷ Net worth

= $12,240 ÷ $39,000

= 0.31

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