What is his gds ratio, If heating and property costs amount

What is his gds ratio

Reference no: EM133492094

Question: Tom has contracted a 20-year, $295,000 fixed-rate mortgage at a rate of 5%, compounded semi-annually. The Bank of Canada 5-year rate is 5.25%. If heating and property costs amount to $6,000 a year, what is his GDS ratio? Rami's gross annual income is $120,000 and mortgage payments are monthly.

Reference no: EM133492094

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