You and your spouse are in good health and have reasonably secure careers. Each of you makes about $51,000 annually. You own a home with a mortgage of $102,000, and you owe $26,000 on car loans, $9,000 in personal debts, and $9,000 on credit card loans. You have no other debts. You have no plans to increase the size of your family in the near future. Assume funeral expenses of $5,000. Estimate your total insurance needs using the DINK method.
You and your spouse are in good health and have reasonably secure careers. Each of you makes about $51,000 annually. You own a home with a mortgage of $102,000, and you owe $26,000 on car loans, $9,000 in personal debts, and $9,000 on credit card loans. You have no other debts. You have no plans to increase the size of your family in the near future. Assume funeral expenses of $5,000. Estimate your total insurance needs using the DINK method.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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![You and your spouse are in good health and have reasonably secure careers. Each of you makes about $51,000 annually. You own a
home with a mortgage of $102,000, and you owe $26,000 on car loans, $9,000 in personal debts, and $9,000 on credit card loans.
You have no other debts. You have no plans to increase the size of your family in the near future. Assume funeral expenses of $5,000.
Estimate your total insurance needs using the DINK method.
Insurance need](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F62f5c8a1-ec74-458c-ab2c-94b9dc30ef88%2F06838b0e-70ec-49b0-afa6-eef90e2de4b6%2Frvtgg4h_processed.jpeg&w=3840&q=75)
Transcribed Image Text:You and your spouse are in good health and have reasonably secure careers. Each of you makes about $51,000 annually. You own a
home with a mortgage of $102,000, and you owe $26,000 on car loans, $9,000 in personal debts, and $9,000 on credit card loans.
You have no other debts. You have no plans to increase the size of your family in the near future. Assume funeral expenses of $5,000.
Estimate your total insurance needs using the DINK method.
Insurance need
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