Assume that you are helping your cousin Mark calculate his life insurance needs and evaluate various types of coverage. Here are the facts:

He is divorced with one 3-year old child, Manny

Mark - 06/02/1993

Manny - 01/15/2018

Mark is in excellent health and has never used tobacco

Mark's salary is $82,000/year gross, and he expects it to increase by 3% per year

He saves 15% per year of his gross salary into his company 401K pre-tax

He pays $2,600/year for group health insurance, pre-tax (Mark's ex carries the health coverage for Manny)

His employer deducts Social Security tax (6.2%), Medicare (1.45%) from his gross pay and about 15% from his taxable pay for Federal and State tax

His employer provides free life insurance in the amount of 1 x his gross salary, and his Social Security Survivor benefit is $1,000/month increasing by 3% per year

He pays 20% of his gross income for child support (not tax deductible) and will owe this until Manny is 18, but Mark wants enough life insurance to pay this until Manny is 30 in the event that Mark dies prematurely

His remaining living expenses are about $30,000/year

He wants to start saving to cover half of the cost of college for Manny (four years, in-state tuition at UW Madison) but has not yet saved anything; he wants enough life insurance to cover this if he dies prematurely

After considering the items he wants covered in the event of his premature death, how much life insurance coverage does Mark need (in excess of is Social Security Survivor's benefit and his group life coverage)?

old Question 59 of 75. Travis operates a consulting business. He uses his personal credit card for both business and personal uses. The total finance charges paid for the year were $957. Travis' total business charges on this card were 41% of all charges. What amount of interest expenses can be deducted on Travis' Schedule C? O $957 O $565 $392 10 Mark for follow up2. A survey of a sample of business students resulted in the following information regarding the genders of the individuals and their selected major. (25 pts) Selected Major Gender Economics Finance Others Total Male 60 140 40 240 Female 40 60 60 160 Total 100 200 100 400 a. What is the probability of selecting an individual who is majoring in Economics? b. What is the probability of selecting an individual who is majoring in Finance, given that the person is male? C. What is the probability that an individual is a female and majoring in Others? d. What is the probability that an individual is either a female or majoring in Finance? e. What is the probability of selecting an individual who is either majoring in Finance or in Economics?Q1: (Hypothetical) In IIIE total 800 students applied in MSc programs, 200 in IBF, 250 in Economics and 350 in Economics and Finance program. A test of 100 marks was conducted for admission into these degree programs. Note Following information: marks obtained by Economics students are normally distributed with mean 60 marks and SD 12marks marks obtained by Economics and Finance students are normally distributed with mean 58 marks and SD 13marks Now answer following questions: L How many of the economics students obtained marks between a 35 and 65 b. 20 and 80 C. 5 and 95 ii. Grade "A" is assigned to student who obtained marks 80 or more, how many students of Economics and finance got "A" grade? Suppose in previous MSc IBF class there were 20 students, out of which 5 were foreigners. Suppose 5 students are randomly selected for a group discussion on Islamic and Conventional Banking. What is the probability that a. Exactly three foreigners students are selected b. Less than three foreigners students are selected c. At least three foreigners students are selected d. At most three foreigners students are selectedMoving to another question will save this response. Question 4 In a production possibilities frontier model, a point inside the frontier is O allocationly efficient. O productively inefficient., O productively efficient. O productively and allocatingly inefficient. D A Moving to another question will save this response