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16. please show work. Assume that you and your spouse each work and make $50,000 each annually. There are no children. The mortgage on your

16. please show work.

Assume that you and your spouse each work and make $50,000 each annually. There are no children. The mortgage on your condo is $180,000 and you owe $20,000 on your car loans, and $3,000 on credit card loans. Funeral costs are estimated at $10,000. What is a good estimate of the amount of life insurance you need? Include the name of the estimation method.

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