FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Carol feels that the best way to determine how much life insurance she needs is to use the capital drawdown method. If inflation is 2.1%

Carol feels that the best way to determine how much life insurance she needs is to use the capital drawdown method. If inflation is 2.1% and she wants to have enough life insurance to provide her family with $33,000 for 23 years, how much life insurance does she need? Use the capital drawdown method to calculate the life insurance she needs and input your answer to the nearest dollar.


Step by Step Solution

There are 3 Steps involved in it

Step: 1

Given Annual withdrawal amount 33000 Inflation rate 21 expressed as 0021 as a ... 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

Principles Of Risk Management And Insurance

Principles Of Risk Management And Insurance

Authors: George E. Rejda, Michael McNamara

12th Edition

132992914, 978-0132992916

More Books

Students also viewed these Finance questions

Question

From the attached article: 1) Introduction - Describe the case. What happened? When did that happen? Who got involved? 2) Identify the link between the case and global market changes?...

Answered: 1 week ago

Question

★★★★★
1. Hannah is applying for a life policy on her girlfriend Sarahs life. The policy is $500,000 and carries a large premium. Hannah is the main earner, so she is concerned about not being able to pay...

Answered: 1 week ago

Question

★★★★★
for this case study carefully read the article titled "The Case for Reparations" The Atlantic Introduction Provide an overview of the situation Identify critical issues underlying the problems...

Answered: 1 week ago

Question

★★★★★
STEELCO manufactures two types of steel (steel 1 and steel 2) at two locations (plant 1 and plant 2). Three resources are needed to manufacture a ton of steel: iron, coal, and blast furnace time. The...

Answered: 1 week ago

Question

★★★★★
Solve graphically. Round solutions to three decimal places, where appropriate a. x2 - 8x + 12 = 0 b. 5x2 + 42x + 16 = 0

Answered: 1 week ago

Question

★★★★★
=+describe techniques for reducing the impact of foreign exchange changes on the competitive position of the firm;

Answered: 1 week ago

Question

★★★★★
Describe how the three core teamwork competencies (the ABCs of teamwork) as described by the Cannon-Bowers and Salas (2006) may promote team effectiveness.

Answered: 1 week ago

Question

★★★★★
Chucks Brokerage Service (CBS) is a discount financial services firm offering clients investment advice, trading services, and a variety of mutual funds for investment. Chuck has collected the...

Answered: 1 week ago

Question

★★★★★
Erkens Company utiliza un sistema de costeo por trabajo con costeo normal y aplica los gastos generales de fbrica sobre la base de las horas de mquina. A principios de ao, la gerencia estim que la...

Answered: 1 week ago

Question

★★★★★
Gillian Shaw opened Shaws Carpet Cleaners on March 1. During March, the following transactions were completed. Mar. 1 Invested $10,000 cash in the business. 1 Purchased used truck for $6,000, paying...

Answered: 1 week ago

Question

★★★★★
What theory is the following statement consistent with The market is fully efficient so that no alpha can exist, and any measured CAPM alpha is only due to measurement error or short van luck which...

Answered: 1 week ago

Question

★★★★★
a. What manufacturing data is used by the managerial accounting module within ERP? b. How is this information used to control costs, to maximize productivity, and to streamline operations? c. How...

Answered: 1 week ago

Question

★★★★★
What is Big Data? What are the 3V's of Big Data? What tasks are usually performed in a database marketing campaign? Research three Business Analytics tools. Name and describe them and the features of...

Answered: 1 week ago

Question

★★★★★
(a) Explain briefly any five Methods of Costing. (5) (b) Pleasant Cold Limited manufactured and sold 1,000 refrigerators in the year ending 31st March, 2012. The summarised Trading and Profit and...

Answered: 1 week ago

Question

★★★★★
Suppose that str is composed of 20 characters. Draw the stack frame for bof. Mark the direction in which the stack grows. In which direction does strcpy write? How does the program know where to...

Answered: 1 week ago

Question

★★★★★
Determine the following inverse z-transforms using the partial fraction expansion method. 1. X1(2)=(1-1-42-2 +42-3)/(1-+- 2 3). The sequence is rightsided. 2. X2(2)=(1+1-42-2 +42-3)/(1-+---). The...

Answered: 1 week ago

Question

★★★★★
Question #1 is definitely the one I need help with the most, but feel free to help with the rest! Superior Manufacturing Company 1) Based on Exhibits 1 and 2, prepare a contribution format of income...

Answered: 1 week ago

Question

★★★★★
The manager of a local convenience store is expanding his line of small toy items. To price these new items, the manager is looking at the prices being charged by competing retailers in his area. For...

Answered: 1 week ago

Question

★★★★★
a. Briefly describe the special limits of liability that apply to certain types of personal property. b. Why are these special limits used?

Answered: 1 week ago

Question

★★★★★
Explain the basic objectives in the settlement of claims.

Answered: 1 week ago

Question

★★★★★
Kelly, age 35, is a single parent and has a one-year-old son. She earns $45,000 annually as a marketing analyst. Her employer provides group life insurance in the amount of twice the employees...

Answered: 1 week ago

Question

★★★★★
A museum received gifts of two valuable paintings. It recorded the value of one as an asset and recognized the corresponding revenue. It gave no accounting recognition to the other. What might be a...

Answered: 1 week ago

Question

★★★★★
The following information was taken from the CAFRs of two cities of approximately the same size in the same state. 1. Compare the nancial condition of the two cities based on the following...

Answered: 1 week ago

Question

★★★★★
In each of the following scenarios, an organization receives a contribution in kind. Prepare journal entries, as necessary, to give them accounting recognition. For each, tell why you made an entry...

Answered: 1 week ago

Previous Question Next Question