Reference no: EM132847789
Question - Your new client, Chase, age 39, he provided you with the following information for the year:
$89,000 = Annual gross income
$9,000 = Taxes
$12,000 = Rent
$33,000 = Annual living expenses (excluding other expenses listed here)
$2,000 = Credit card debt
$2,000 = Checking Account
$60,000 = 401k Balance
$500 = Monthly auto loan payment
$14,000 = Auto loan debt
$400 = Monthly credit card payment
$8,000 = Annual savings
Use this information to calculate financial ratios for Chase.
Required -
1. Calculate his Saving Ratio.
2. Calculate his debt ratio.
3. Calculate his Emergency Fund Ratio.
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