Answered step by step
Verified Expert Solution
Question
1 Approved Answer
For the following needs analysis case, answer the accompnaying questions by filling in the blanks needs Bellamy and Clarke are a very successful couple in
For the following needs analysis case, answer the accompnaying questions by filling in the blanks needs Bellamy and Clarke are a very successful couple in their mid-30's. Bellamy is a security consultant and Clarke is the senior vice-president of marketing for an medical supplies company. They call you to discuss and advise on their insure * Bellamy's income (last calendar year) $84,000 . Clarke's income (last calendar year) $83,000 . Investments (current rate of interest 6 3%) $608,000 . RRSP'S $341,000 . Real Estate $1 23 Million . Cash $14,700 Mortgage $287,000 . Line of Credit (loan) $225,000 . Credit Cards $0 . Personal loans (cars, etc.) $113,000 . Investment Rate 6.30% Taxes on income 20% . Inflation 2% How much insurance does Clarke need using the capitalization of income approach for 20 years? $ Hint: Just based on replacing income (PMT) and using the depletion method s Scanned with CamScanner ch would be required to pay the last or final expenses of Bellamy or Clarke? $
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started