Question

Jasmine and her spouse are considering purchasing a larger house for their growing family. Below is a summary of their current combined income and expenses.

Combined Salary (Net Annually)	$97,500	Monthly Mortgage Payment	$1,200
Master Card (minimum monthly payment)	$1,000	Utilities (Heath and Electricity)	$150
Car Loan Payment	$850	Cable TV	$50
Cell-Phone Plan	$100	Line of Credit (minimum monthly payment)	$200
Property Tax (annual)	$2,000

Question 13 (1 point)

What is Jasmine's family average monthly income? (1 mark)

Question 13 options:

	$97,500
	$8,125
	$9,805
	$9,750
	None of the Above

Question 14 (2 points)

What is their monthly shelter cost?

Question 14 options:

	$2,000
	$1,350
	$1,200
	$1,517
	None of the Above

Question 15 (2 points)

What is their Gross Debt Service (GDS) Ratio?

Question 15 options:

	18.67%
	20.56%
	31.64%
	15.31%
	None of the Above

Question 16 (1 point)

Is this an acceptable GDS? (1 mark)

Question 16 options:

	Yes, it is below 32%
	No, it is below 32%
	Yes, it is above 10%
	No, it is above 10%
	None of the Above

Answer 1