Robert Sampson owns a townhouse valued at $185,000 and still has an unpaid mortgage of $150,000. In addition to his mortgage, he has the following liabilities:
Visa $ 755
MasterCard 380
Discover card 555
Education loan 3,900
Personal bank loan 650
Auto loan 6,000
Total $ 12,240
Robertâs net worth (not including his home) is about $39,000. This equity is in mutual funds, an automobile, a coin collection, furniture, and other personal property.
Required:
a. What is Robertâs debt-to-equity ratio?
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