finances is the debt ratio. it shows the relationship between debt and assets; a low debt ratio is best…

finances is the debt ratio. it shows the relationship between debt and assets; a low debt ratio is best. jamie lee jackson ive heard of it, but could you remind me? susie of course! it is your liabilities divided by your assets. what is your debt ratio? (enter as a whole number percentage.) income monthly in/outflow gross monthly salary $3,215 net monthly salary $2,733 expenses rent $751 utilities $181 food $412 gas/maintenance $99 credit card $39 savings emergency savings $181 entertainment cake decorating class $89 going out with friends $115 enter a response then click submit below %

finances is the debt ratio. it shows the relationship between debt and assets; a low debt ratio is best. jamie lee jackson ive heard of it, but could you remind me? susie of course! it is your liabilities divided by your assets. what is your debt ratio? (enter as a whole number percentage.) income monthly in/outflow gross monthly salary $3,215 net monthly salary $2,733 expenses rent $751 utilities $181 food $412 gas/maintenance $99 credit card $39 savings emergency savings $181 entertainment cake decorating class $89 going out with friends $115 enter a response then click submit below %

Answer

Explanation:

Step1: Calculate total liabilities

Liabilities are rent ($751), utilities ($181), food ($412), gas/maintenance ($99), credit - card ($39), so total liabilities = $751 + 181+412 + 99+39=1482$.

Step2: Calculate total assets

Assets are net monthly salary ($2733) and emergency savings ($181), so total assets = $2733+181 = 2914$.

Step3: Calculate debt - ratio

Debt ratio = $\frac{\text{Total Liabilities}}{\text{Total Assets}}\times100%=\frac{1482}{2914}\times100%\approx51%$.

Answer:

51%