James, 18 “I bought my first car last year and it's great. Now it is much easier to get to school and work. However, I had to borrow money because I only had $ 3,000 saved and the car cost $ 5,000. I just checked online to see how much my car is worth today and it has gone down a bit in value. If you sold it right now, it's worth $ 4,500. However, I still have $ 1,500 left on my car loan. I wonder how I can measure my loan against the value of my car.

What do you think ... what proportion should I calculate? "
What ratio should James use?

What is James's ratio percentage?

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