Tom and Mary have the following assets, liabilities, income, and expenses. Please use this information to calculate their net worth: Yearly income: $65,000 Value of home: $90,000 Value of cars: $20,000 Monetary Assets: $10,000 Mortgage on house: $50,000 Auto loans: $4,000 - due this year Utility bills: $150 - which have not been paid
Calculate the debt ratio
2.5
42.45%
2.41%
45.13%