Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 19, 2024

Adriana wants to provide income for her parents for 10 years should she die. Adriana earns $60,000 and feels that her parents could live on

Adriana wants to provide income for her parents for 10 years should she die. Adriana earns $60,000 and feels that her parents could live on 60% of her current income. If the insurance funds could be invested at 5%, how much life insurance does Adriana need? Show all work for credit.

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

Foundations In Personal Finance

Foundations In Personal Finance

Authors: Dave Ramsey

3rd Edition

1936948524, 978-1936948529

More Books

Students also viewed these Finance questions

Question

★★★★★

Assume that you are examining the balance sheets of two companies and note the following information. Maxie Smith, a student who has had no accounting courses, remarks that Company A and Company B...

Answered: 1 week ago

Question

★★★★★

The spring constant of a toy dart gun is 5000 N/m. To cock the gun the spring is compressed 3 cm. The 7-g dart, fired straight upward, reaches a maximum height of 24 m. Determine the energy...

Answered: 1 week ago

Question

★★★★★

32. Independent trials, each resulting in success with probability p, are performed. (a) Find the expected number of trials needed for there to have been both at least n successes and at least m...

Answered: 1 week ago

Question

★★★★★

During the audit of a major client, you notice that revenues have increased dramatically from the third to the fourth quarter and especially over the previous periods of last year. Youve received...

Answered: 1 week ago

Question

★★★★★

Download the given Zip to your computer and extract ( unzip ) to keep the two files contained in the Zip file within the same directory ( folder ) : The link will open in OneDrive. Click on Download...

Answered: 1 week ago

Question

★★★★★

Homework 4 (Ch. 4) 30f12 -/1 ;= Current Attempt in Progress The velocity 7)) of a particle moving in the xy plane (5.5 r 5.0 )? + 9.0 3", with 7)) in meters per second and t (> O) in seconds. At t =...

Answered: 1 week ago

Question

★★★★★

Assignment question Sam owns a gift shop which sells a range of gifts, cards and jewellery. Sam prides himself on only sourcing and selling handmade items from independent crafts people. He decides...

Answered: 1 week ago

Question

★★★★★

A company pays an annual insurance premium. On 1 September 20X7 it paid $6,000 for the 12 months ended 31 August 20X8. On 1 September 20X8 it paid $7,200 for the 12 months ended 31 August 20X9. 1)...

Answered: 1 week ago

Question

★★★★★

Make an argument as to why Arnold Schwarzenegger's character in the movie would have a good argument for Fraudulent Misrepresentation. TITLE OF VIDEO: Mexican Turbo Man - Jingle All the Way (FIRST...

Answered: 1 week ago

Question

★★★★★

Based on the information given in the figure, determine the necessary power input to the compressor (Win). Yout=26 kJ/kg P = 600 kPa T2=600 K Air m = 0.02 kg/s P = 100 kPa T = 480 K Win = ?

Answered: 1 week ago

Question

★★★★★

Read the article, "This Map Shows the Scale of the 16th- and 17th-Century Scottish Witch Trials" located in the module resources. When reviewing this article, you may consult the map or the text. As...

Answered: 1 week ago

Question

★★★★★

What is the purpose of the application form?

Answered: 1 week ago

Question

★★★★★

What is the general purpose of preliminary screening?

Answered: 1 week ago

Question

★★★★★

If you are in full- time study Decision- making and the treatment of people are central to both HRM and ethics. Identify the key practices of HRM (such as selection, rewards and participation) where...

Answered: 1 week ago

Previous Question Next Question