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Spouse A Spouse B Market wages 80,000/year 20,000/year Home production 12,000/year 40,000/year Expenses (net of added 50,000/year 50,000/year income) Debt/funeral costs 220,000 220,000

Spouse A Spouse B Market wages 80,000/year 20,000/year Home production 12,000/year 40,000/year Expenses (net of added 50,000/year 50,000/year income) Debt/funeral costs 220,000 220,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Spouse A Spouse B Market wages 80,000/year 20,000/year Home production 12,000/year 40,000/year Expenses (net of added 50,000/year 50,000/year income) Debt/funeral costs 220,000 220,000 How much life insurance should be purchased for Spouse B if using the expense approach, assuming 25 years and 3% rate? Please select the number closest to your answer $1,090,655 $870,655 O $1,044,786 O $348,262 O $428,957.20
Transcribed Image Text:Spouse A Spouse B Market wages 80,000/year 20,000/year Home production 12,000/year 40,000/year Expenses (net of added 50,000/year 50,000/year income) Debt/funeral costs 220,000 220,000 How much life insurance should be purchased for Spouse B if using the expense approach, assuming 25 years and 3% rate? Please select the number closest to your answer $1,090,655 $870,655 O $1,044,786 O $348,262 O $428,957.20
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