Darren and Susan want to provide funding for their daughter Jerri, age 10, to attend four years of college, starting at age 18. The current annual cost of tuition is $19,000. Assume inflation of 6% and after-tax earnings of 5%. If the couple wants to have enough life insurance to assure adequate funds for Jerri when she begins college (should Darren die today), approximately what amount of life insurance covering Darren is needed for the college funding? (Round your answer to the nearest dollar.) A)$80,835   B)$83,166   C)$83,958   D)$80,071

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
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Chapter1: Making Economics Decisions
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Darren and Susan want to provide funding for their daughter Jerri, age 10, to attend four years of college, starting at age 18. The current annual cost of tuition is $19,000. Assume inflation of 6% and after-tax earnings of 5%. If the couple wants to have enough life insurance to assure adequate funds for Jerri when she begins college (should Darren die today), approximately what amount of life insurance covering Darren is needed for the college funding? (Round your answer to the nearest dollar.)

A)$80,835
 
B)$83,166
 
C)$83,958
 
D)$80,071
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