31010pointsShaan and Anita are married and have two children, ages 8 and 10. Anita is a “nonworking” spouse who devotes all of her time tohousehold activities. Estimate how much life insurance Shaan and Anita should carry.(Use $20,000)Answer is complete but not entirely correct.Insurance need$100,000 ×

You're right, the provided answer of $100,000 is likely an underestimate. Let's break down the…

Answered: 3 10 10 points Shaan and Anita are…

Personal Finance

13th Edition

ISBN:9781337669214

Author:GARMAN

Publisher:GARMAN

Chapter10: Managing Property And Liability Risk

Section: Chapter Questions

Problem 2DTM

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Marianne and roger are in good health and have reasonably secure careers each earns $ 45000 annually they own a home with a $125000 mortgage they owe 25000 for their car loans and have 22,000 in student loans if one should die they think that funeral expenses would be 12000 what is their total insurance beed using the dink method
7
Nikul
9.4 Life Insurance; Do You Really Need It? Daryl is a single 25-year-old with no children. He has $75,000 in unpaid student loans, $10,000 in a savings account. His employer offers $50,000 of annually renewable term life insurance to him at no cost as an employee benefit. How much additional life insurance should he purchase? $0. $15,000. $25,000. $65,000.
Bha
Hi I have a question regarding Austrlian Retirement and Financial Planning. In this example, the couple are retired and one of them is ill and looking for a retirement home, the home is going to cost $450,000 deposit. Neither of the couple work and draw 50,000 from their super in order to stay afloat. They have 20,000 and 562,000 in super combined, have a 900,000 dollar home. They also have 10,000 worth of home contents, a 15,000 dollar vehicle, and 55,000 cash in the bank. It is important to note they have 0 debt and everything is fully paid off. Neither of them have ever received pension money or government support. Myrtle wishes to put bob in an aged care facility, and when that is done she wants to return to work part time. 1. How will Myrtle's income be funded of $40,000 per annum be financed now, in the future and when she retires in 10 years time?
You are the wage earner in a "typical family," with $60,000 gross annual income. Use the easy method to determine how much life insurance you should carry. O 60,000 O 120,000 294,000 420,000
Darlene wants to buy a $200,000 term life insurance policy. She is 34 years old. Using the premium table, what is her annual premium for a 10-year policy? a $100 b. $108 C$1.202 d. $1.290
I really do not know why this one is popping up as incorrect. Please help
H3.
Marie wants to provide retirement income for her dependent parents for 35 years should she die. Marie earns $67,500 and feels that her parents could live on 65% of that amount. If the insurance funds could be invested at 5%, how much life insurance does she purchase using the desired income method? Group of answer choices $1,273,499 $1,450,087 $932,743 $877,500
c. How much will the family receive (to the nearest dollar)? 647.51/1-6 1-(1.005264 .OOS 647.51.146.4 = 94795.46 150000-94795.46-55204.54₁,6 = 33122.72 4. A couple are planning for retirement. They plan to retire at age 70. At that time they wish to be able to withdraw $7500 per month from their retirement account for a period of 25 years, reducing the balance to zero. How much should they start saving now in an account that pays 7.54% compounded monthly to achieve their goal? Assume that they will be able to earn at least 7.54% interest compounded monthly from now until they are age 95. nt How much interest is earned over the 65 year period? A = P(1 + £ ) m² FV= PMT ((1+1)^-1) 7500 (1.076+25-1)

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