You have a gross annual income of $63,500. Use the multiple of income method todetermine the minimum amount of life insurance you should carry.

Step 1:Multiple of income method is one approach:-The multiple of income method typically suggests…

Answered: You have a gross annual income of…

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)

7th Edition

ISBN:9780357033609

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter8: Insuring Your Life

Section: Chapter Questions

Problem 3LO

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M21.
A 125. Subject:- finance
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You have a gross annual income of $63,500. Use the multiple of income method to determine the minimum amount of life insurance you should carry.