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What is the gross debt service ratio

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Question - Given Sam's gross household income is $6,917 monthly and mortgage payments are $1,650, property taxes of $200, heating costs $120, strata fees of $300, a car lease of $441 and RRSP contributions of $400. What is the gross debt service ratio?

a. 30.6%

b. 37.0%

c. 42.8%

d. 32.8%

Reference no: EM133028691

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