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Dorothy is a single parent who earns $66000 per year after taxes. Her household expenses are $55000 per year. If she were to die, she
Dorothy is a single parent who earns $66000 per year after taxes. Her household expenses are $55000 per year. If she were to die, she estimates that death costs would total $11000. She wants to provide $55000 for an education fund for each of her twin children, who are currently 10 years old. She does not qualify for Social Security benefits, so she needs $25000 per year in addition to household expenses for childcare for her twins until they reach 18. She currently has savings of $22000 but should also have an emergency fund (3 months' expenses). Using the financial needs approach, how much life insurance would you recommend? $774750 O $720000 $752750 O $700750 Dorothy is a single parent who earns $66000 per year after taxes. Her household expenses are $55000 per year. If she were to die, she estimates that death costs would total $11000. She wants to provide $55000 for an education fund for each of her twin children, who are currently 10 years old. She does not qualify for Social Security benefits, so she needs $25000 per year in addition to household expenses for childcare for her twins until they reach 18. She currently has savings of $22000 but should also have an emergency fund (3 months' expenses). Using the financial needs approach, how much life insurance would you recommend? $774750 O $720000 $752750 O $700750
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