Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

can you show the steps 1. You are a dual-income, no-kids family. You and your spouse have the following debts (total): mortgage, $200,000; auto loan,

can you show the steps
image text in transcribed
image text in transcribed
1. You are a dual-income, no-kids family. You and your spouse have the following debts (total): mortgage, $200,000; auto loan, $10,000; credit card balance, $4,000; other debts, $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? (L010.1) EXAMPLE: The DINK Method Example Your Figures Funeral expenses $10,000 $ One half of mortgage 60,000 One half of auto loan 7,000 One half of credit card balance 1,500 One-half of personal debt 1,500 Other debts 1.000 Total Insurance needs $81,000 $

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_2

Step: 3

blur-text-image_3

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

Investment Risk Management

Authors: Yen Yee Chong

1st Edition

0470849517, 9780470849514

More Books

Students also viewed these Finance questions

Question

Manner in which project tracking and control activities are applied

Answered: 1 week ago