Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

5. Assume you have a home that would cost $265,000 to replace. You currently have the home insured for $235,000. Last night there was a

image text in transcribed
5. Assume you have a home that would cost $265,000 to replace. You currently have the home insured for $235,000. Last night there was a tornado which damaged your home, causing an estimated $40,000 worth of damages. How much will your insurance company pay for repairing the damage to your home? $40,000$43,710$38,500$36,550 Question 6 5 pts 6. Adrianna wants to provide retirement income for her dependent parents for 23 years should she die. Adriana earns $67,500 and feels that her parents could live on 70% of that amount. If the insurance funds could be invested at 5.5%, how much life insurance does Adrianna purchase using the desired income method? $1,546,667,84 $714,666.67 $618,666.67 $859,090.91

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Commodity Market Trading And Investment

Authors: Tom James

1st Edition

1137432802, 978-1137432803

More Books

Students also viewed these Finance questions

Question

Create a Fishbone diagram with the problem being coal "mine safety

Answered: 1 week ago