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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
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
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