FIN 420 Week 4 Textbook Problems Write a 175- to 350-word response to Case 6 on p. 317 in Ch. 10 of Personal Finance. Complete Do the Math, #2 on p. 344 in Ch. 11 of Personal Finance. Complete #1, Calculating Life Insurance Need, on p. 376 in Ch. 12 of Personal Finance.

Determining My Life Insurance Needs (page 353)
NOTE: Results here may differ slightly than when using Appendix A in text due to rounding.
Factors Affecting Need	Sample Only	Insert Your Own Figures
1. Income-replacement needs*	$823,219
2. Final-expense needs	$ 12,000
3. Readjustment-period needs	$ 19,000
4. Debt-repayment needs	$ 10,000
5. College-expense needs	$ 75,000
6. Other special needs	$ -
7. Subtotal (combined effects of items 16)	$ 939,219
8. Government benefits**	$390,370
9. Investment Assets Available	$0
10. Current Life Insurance In Place	$ 98,000
11. Life insurance needed	$ 450,848
*Income Replacement Needs Calculator
Current Annual Income	$56,000
Percent of Annual Income To Be Replaced	75%
Annuity Amount (% desired of annual income)	$42,000
i (assumed interest rate	3.00%
n (number of annuity payments)	30
PV (present value) of Income Replacement Needs	$823,219
**Present Value of Social Security Benefits Calculator
Estmated Monthly Benefit (See Appendix B in Text)	$2,725.00
Estimated Annual Benefit	$32,700
i (assumed interest rate	3.00%
n (number of annuity payments)	15
PV (present value) of Government Benefits	$390,370