Calculate the additional life insurance needs for an individual whose income stream was $90,000, the income spent on the individual was 22% of the income stream, where that income stream would have been needed for 30 Years. Assume a 6% return (after tax and inflation) is desired and that there already is $200,000 life insurance provided for the income-earner by his/her employer. Which solution most closely approximates the additional insurance needed? O $766,291 O $871,115 O $571,115 O $471,115 $671,115 13

Chemistry
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Author:Steven S. Zumdahl, Susan A. Zumdahl, Donald J. DeCoste
Publisher:Steven S. Zumdahl, Susan A. Zumdahl, Donald J. DeCoste
Chapter1: Chemical Foundations
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Calculate the additional life insurance needs for an individual whose income stream was $90,000, the income
spent on the individual was 22% of the income stream, where that income stream would have been needed for 30
Years. Assume a 6% return (after tax and inflation) is desired and that there already is $200,000 life insurance
provided for the income-earner by his/her employer. Which solution most closely approximates the additional
insurance needed?
O $766,291
O $871,115
O $571,115
O $471,115
$671,115
13
Transcribed Image Text:Calculate the additional life insurance needs for an individual whose income stream was $90,000, the income spent on the individual was 22% of the income stream, where that income stream would have been needed for 30 Years. Assume a 6% return (after tax and inflation) is desired and that there already is $200,000 life insurance provided for the income-earner by his/her employer. Which solution most closely approximates the additional insurance needed? O $766,291 O $871,115 O $571,115 O $471,115 $671,115 13
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