Given the following information, calculate the savings ratio: Liabilities = $25,000
Liquid assets = $5,000
Monthly credit payments = $800
Monthly savings = $760
Net worth = $75,000
Current liabilities = $2,000
Take-home pay = $2,300
Gross income = $3,500
Monthly expenses = $2,050
A) 33.79%
B) 3.06%
C) 2.40%
D) 34.78%
E) 21.71%
Correct Answer:
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