Nancy is a widow with two teenage children. Nancy's gross income is 54200 per month, and taxes take about 22% of her income. Using the income method, Nancy calculates she will need to purchase about eight times her disposable income in life insurance to meet her needs. How much insurance should Nancy purchase?

Q: a wants to buy a home and is applying for a conventional mortgage loan. Her gross monthly income is…

A: Maximum monthly mortgages depend on the monthly expenses and other income.

Q: adeline has 30K per year of income as well as 25K per year of investment income. There was a problem…

A: Medical expenses are the costs to treat or prevent an injury or disease,include health and dental…

Q: Angela's monthly disposable income is ​$1,749. She has monthly expenses of ​$1,548 ​(including…

A: Savings refers to portion of disposable income left after payment of all expenses or liabilities.

Q: You and your spouse are in good health and have reasonably secure careers. Each of you makes about…

A: DINK refers to double income, no kids category of insured. In this time of insurance category, both…

Q: Louise’s monthly gross income is $2,800. Her employer withholds $560 in federal, state, and local…

A: Debt-to-income (DTI) ratio is a significant factor in determining overall financial health in…

Q: Louise's monthly gross income is $2,700. Her employer withholds $540 in federal, state, and local…

A: Your debt-to-income ratio is all your monthly debt payments divided by your gross monthly income.…

Q: Alex makes $80,000 per year and pays about 30% of his gross monthly income in federal and state…

A: Federal and state tax are the mandatory deductions from the income. Income left after tax will be…

Q: ertrude's wages are 42000. Her savings interest earned is 60$. She contributed 3000$ to an IRA. What…

A: Gross income refers to an amount earned as an income by the individuals before any deductions and…

Q: Kim is trying to decide whether she can afford a loan she needs in order to go to chiropractic…

A: Debt Payments to income ratio (Without College Loan) = Debt/Net Income Debt Payments to income ratio…

Q: Bert spends $10.60 a day travelling to work, and a further $65 a day sending his daughter Belle to a…

A: Income tax: Income tax can be defined as the tax charged on the income of the individual and the…

Q: Julian used $90,000 of his savings to purchase a single premium annuity, which pays him $600 per…

A: A single premium annuity is a type of annuity that is purchased with a lump-sum payment. The…

Q: Brad and Sam take a 30-year mortgage for a house that costs $126,601. Assume the following:   The…

A: PITI stands for principal, interest, tax and insurance - PITI is the sum component of all four…

Q: The Tucker family has health insurance coverage that pays 65 percent of out-of-hospital expenses…

A: T lives in the United States with his family. He has purchased family health insurance.…

Q: Income Method. Nancy is a widow with two teenage children. Nancy's gross income is $3,800 per month,…

A: Given that :Gross monthly income- $3800Taxes- 17%Life insurance amount = 8times of annual disposable…

Q: Rachel and Alexander Harrison need to calculate the amount they can afford to spend on their first…

A: Affordability ratio refers to the monthly expense that a person can afford out of his income.Monthly…

Q: Ed and Marta are paid $2,460 after taxes every month. Monthly expenses include ​$834 on housing and​…

A: Savings ratio shows the proportion/ratio of savings to the respective income.

Q: Jessica Railes is purchasing a condo and is shopping for an​ HO-6 policy. Her auto insurer quoted…

A: The objective of the question is to calculate the amount by which Jessica's insurance premium would…

Q: Julie paid a day care center to watch her two-year-old son while she worked as a computer programmer…

A: * As per the bartleby guidelines, in case of interlinked question answer first 3 only You are…

Q: Ed and Marta are paid $4,130 after taxes every month. Monthly expenses include ​$1,397 on housing…

A: The monthly savings would be computed by deducting the monthly expenses from the monthly after-tax…

Q: Margo has an individual medical expense policy with a $1,000 deductible. She is required to pay 20…

A: Mediclaim is insurance in which the insured company pay certain amount of medical expenses but there…

Q: You and your spouse are in good health and have reasonably secure careers. Each of you makes about…

A: DINK refers to double income, no kids category of insured. In this insurance category, both husband…

Q: Helen plans to purchase a $394,000 house using a 15-year mortgage obtained from her local credit…

A:

Q: Toby wishes to obtain auto insurance for his two-year-old car in model class H. He wants 50/100/50…

A: We have to find the insurance premium for an auto insurance with 50/100/50 liability coverage.

Q: $2,500 per month. She has the following monthly debt payment expenses: $75 for credit cards, $125…

A: FHA provides the guidelines for the how much should be monthly income and housing expenses should…

Q: s a gross monthly income of $3,900. She has 15 remaining payments of $189 on a used car. The taxes…

A: TDS is the total debt ratio that is the ratio of the monthly housing payment plus other debt divided…

Q: Ed and Marta are paid $2,440 after taxes every month. Monthly expenses include ​$860 on housing and​…

A: Savings ratio shows the proportion/ratio of savings to the respective income.

Q: ooking at a $523,000 home. To avoid private mortgage insurance (PMI), she put 20% down and the…

A: LTV that is the loan to value ratio shows that how much can give the loan against property and is…

Q: Sarah purchases a health insurance plan. The annual premium is $7,000. The plan has the following…

A: Answer $4,000 deductible, sarah would pay the first $4,000 of his healthcare expenses during the…

Q: Help her calculate her Net Worth?

A: To calculate Diana's net worth, we first need to determine her assets and liabilities. Assets are…

Q: Susan is in an indemnity health insurance plan that has a $500 deductible and a co- insurance…

A: The procedure normally operates as follows under an indemnity health insurance plan with a…

Q: Amanda paid $6,120 for medical insurance and had $4,230 in medical expenses last year. Her medical…

A: In this question we will find out the medical dedution

Q: Your cousin and her partner have a combined gross income of $10,111 and monthly expenses totaling…

A: A Federal Housing Administration (FHA) loan is a mortgage that is insured by the Federal Housing…

Q: Jasmine purchased a home in San Francisco near her best friend Sallie. The purchase price of the…

A: Let's plug in the numbers and calculate: 1. Convert the annual interest rate to a monthly rate:…

Consumer Credit Counseling Services

Credit counseling teaches consumers about credit, budgeting, money management, and debt management. The counselor ensures that consumers can pay off their debts without declaring bankruptcy. Counselors also assist the negotiator, who negotiates with creditors on behalf of their clients to reduce interest rates on outstanding debt. Counselors can offer credit counseling to customers before or after they take on debt. Consumer Credit Counseling Services (CCCS) is a non-profit organization that offers credit counseling services. Some organizations can also be for profit. This type of organization comprises a group of professionals who are skilled negotiators.