You are a dual income, childless family. You and your spouse have the following debts (total): mortgage,
Question:
You are a dual income, childless family. You and your spouse have the following debts (total): mortgage, $200,000; auto loan, $10,000; credit card balance, $4,000; and other debts of $10,000. Further, you estimate that your funeral will cost $8,000. Your spouse expects to continue to work after your death. Using the DINK method, what should be your need for life insurance?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 58% (12 reviews)
Insurance need DINK debts funeral costs Onehalf of the m...View the full answer
Answered By
Somshukla Chakraborty
I have a teaching experience of more than 4 years by now in diverse subjects like History,Geography,Political Science,Sociology,Business Enterprise,Economics,Environmental Management etc.I teach students from classes 9-12 and undergraduate students.I boards I handle are IB,IGCSE, state boards,ICSE, CBSE.I am passionate about teaching.Full satisfaction of the students is my main goal.
I have completed my graduation and master's in history from Jadavpur University Kolkata,India in 2012 and I have completed my B.Ed from the same University in 2013. I have taught in a reputed school of Kolkata (subjects-History,Geography,Civics,Political Science) from 2014-2016.I worked as a guest lecturer of history in a college of Kolkata for 2 years teaching students of 1st ,2nd and 3rd year. I taught Ancient and Modern Indian history there.I have taught in another school in Mohali,Punjab teaching students from classes 9-12.Presently I am working as an online tutor with concept tutors,Bangalore,India(Carve Niche Pvt.Ltd.) for the last 1year and also have been appointed as an online history tutor by Course Hero(California,U.S) and Vidyalai.com(Chennai,India).
4.00+
2+ Reviews
10+ Question Solved
Related Book For
Focus On Personal Finance
ISBN: 9780077861742
5th Edition
Authors: Jack R. Kapoor, Les R. Dlabay Professor, Robert J. Hughes, Melissa Hart
Question Posted:
Students also viewed these Business questions
-
You are a dual income, no kids family. You and your spouse have the following debts: Mortgage = $190,000; Auto loan = $10,000; Credit card balance = $2,000, and other debts of $4,000. Further, you...
-
You and your spouse have separate charge accounts at a local department store. When you tried to use your card last week, you were told that you were over your credit limit. This puzzled you because...
-
You and your spouse have recently inherited money from a distant relative and are considering a number of investment opportunities, one of which would involve residential real estate. Specifically,...
-
If r = (t, t 2 , t 3 ), find r(t) and r(t).
-
Knight Company acquired a new tract of land for $250,000. Knight also paid $20,000 in taxes and fees, $23,000 to remove an old building, and $75,000 for logging, grading, and filling the land prior...
-
Solve Prob. 6.64 when P = 6 kN. Problem 6.64: The diagonal members in the center panel of the truss shown are very slender and can act only in tension; such members are known as counters. Determine...
-
How do you explain your decision to your manager if you choose to include at least two of his friends on your list? Do you have a reason to fear for your own job if you dont protect your managers...
-
Thibodeau Company has the following merchandise account balances: Sales Revenue $195,000, Sales Discounts $2,000, Cost of Goods Sold $117,000, and Inventory $40,000. Prepare the entries to record the...
-
Tercer reports the following for one of its products. Direct materials standard (4lbs. @ $2 per lb.) S Actual direct materials used (AO) Actual finished units produced Actual cost of direct materials...
-
UNIVERSITY SLUM-LORD (USL) does business by leasing single-family homes minimizing the upkeep on them, and then renting them to students who attend college in the same city. The paragraphs below...
-
Mark and Parveen are the parents of three young children. Mark is a store manager in a local supermarket. His gross salary is $75,000 per year. Parveen is a full time stay-at-home mom. Use the easy...
-
What are the key provisions in a life insurance policy?
-
Implement the nave Bayes classifier in the programming language of your choice, and use it to classify pages of text, based on which words appear on the page. To do this, you will first need to train...
-
Which one of the following is not a part of the Deployment phase of a machine learning development project? Explain what phase(s) address this issue, and why then? Training end users to incorporate...
-
Assist with the following discussion: Topic Discussion #1B: The first half of the term is devoted to leaders preparing themselves for leadership. Peter Senge and his coauthors discuss in The Dawn...
-
You are managing an employee who is not a self-starter, and thus you need to devise a plan to effectively lead this employee. Draft a one page (Times New Roman 12) single space response (plus title...
-
Ontario's minister of training, colleges and universities defended changes to post-secondary education on Monday, saying recently announced decisions are all about the making the system more...
-
"The power of globalization is not about leveraging economies of scale. It's about leveraging economies of knowledge and coordination figuring out how not to reinvent the wheel everywhere you do...
-
In Exercises find the general solution of the differential equation. yy' = 4 sin x
-
Using the information in P11-2B, compute the overhead controllable variance and the overhead volume variance. Data From Problem 11-2B: Huang Company uses a standard cost accounting system to account...
-
Define interest. Define and describe simple interest and compound interest.
-
How many compounding periods per year are there when interest is compounded annually? Semi-annually? Quarterly? Monthly? Weekly? Daily?
-
What should you do each time before you use a financial calculator to solve a time value of money problem?
-
During 2024, its first year of operations, Hollis Industries recorded sales of $11,900,000 and experienced returns of $760,000. Cost of goods sold totaled $7,140,000 (60% of sales). The company...
-
What is the value of a 15% coupon bond with 11% return? Is it a discount or a premium bond?
-
A manufacturer with a December 31 taxation year end sells new machinery for $50,000 on January 2, 2022. The cost of the machinery is $20,000. The terms of the sale require an initial payment of...
Study smarter with the SolutionInn App