Based on the various assets and liabilities that the family has, the debt ratio can be calculated to be D. 54.1%.
How is the debt ratio calculated?
the debt ratio can be found as:
= Total debt / Total assets
Solving:
= (5,500 + 210,000 + 180,000+ 25,000) / (3,000 + 13,000 + 320,000 + 25,000 + 15,000 + 64,000 + 39,000)
= 258,500 / 479,000
= 54.1%
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