Robert feels his personal finance is not so healthy in terms of managing debt.He has a $12000 credit card liability,a $10000 car loan,and a $300 000 mortgage liability.Robert possesses a car worth $12000 and a house worth $388000.What is Robert's debt-to-asset ratio?

Question

Quizplus · Accepted Answer

Robert's total debt is $12,000 + $10,000 + $300,000 = $322,000. His total assets are $12,000 + $388,000 = $400,000. His debt-to-asset ratio is $322,000 / $400,000 = 0.805, or 80.5%.

Robert Feels His Personal Finance Is Not So Healthy in Terms