Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Mar 26, 2024

How do you calculate the amount of life insurance some one needs? What are the methods Available? How do they differ?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Calculating the amount of life insurance someone needs involves assessing various factors such as financial obligations income replacement and future ... 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

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

Recommended Textbook for

Personal Financial Planning

Authors: Randy Billingsley, Lawrence J. Gitman, Michael D. Joehnk

15th Edition

978-0357438480, 0357438485

More Books

Students also viewed these Finance questions

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

★★★★★

You are a financial planner with a specialty in risk management. Youve completed the LLQP and are licensed to sell insurance products. You love your career and have built a successful practice based...

Answered: 1 week ago

Question

★★★★★

Grayson and Aubrey Reed are a two-income couple in their early 30s. They have two children, ages 6 and 3. Graysons monthly take-home pay is $3,600, and Aubreys is $4,200. The Reeds feel that, because...

Answered: 1 week ago

Question

★★★★★

State SQL query to satisfy the requirements below: Include the following columns: First Name Last Name Return all rows from the people table where the person's last name is between B and H. Use the...

Answered: 1 week ago

Question

★★★★★

On June 30, 2016, the balances of the accounts appearing in the ledger of Simkins Company are as follows: Instructions 1. Does Simkins Company use a periodic or perpetual inventory system? Explain....

Answered: 1 week ago

Question

★★★★★

3 Review the determinants of direct financial compensation.

Answered: 1 week ago

Question

★★★★★

If the events A and B are independent, each having a positive probability of occurrence, then (a) AB = (b) P(B|A) = P(B) (c) P(A B) = P(A) + P(B) (d) P(A|B) = P(B|A) (e) P(A B) = (1 P(B))P(A)

Answered: 1 week ago

Question

★★★★★

On November 1, 2015, Aviation Training Corp. borrows $60,000 cash from Community Savings and Loan. Aviation Training signs a three-month, 7% note payable. Interest is payable at maturity. Aviations...

Answered: 1 week ago

Question

★★★★★

What is the total stockholders' equity based on the following account balances? Common Stock dollar 450,000 Paid-In Capital in Excess of Par 90,000 Retained Earnings 190,000 Treasury Stock 10,000...

Answered: 1 week ago

Question

★★★★★

Kai is the president of Zebra Antiques. An employee, Reese Francis, is due a raise. Reeses current benefit analysis is as follows: Compute the benefit analysis assuming: 3 percent increase in pay. ...

Answered: 1 week ago

Question

★★★★★

Concord, Inc. manufactures ergonomically designed computer furniture. Concord uses a job order costing system. On November 30, the Work in Process Inventory consisted of the following jobs: Job No....

Answered: 1 week ago

Question

★★★★★

Power Shade manufactures insulated windows. Their Repairs and Maintenance Cost is a mixed cost and varies most directly with machine hours worked. The following data have been gathered from the most...

Answered: 1 week ago

Question

★★★★★

Driving a bus is a service industry. What skills are required to provide a quality customer experience for passengers

Answered: 1 week ago

Question

★★★★★

How will you handle this following situation , for an office manager: you did\'nt order enough supplies, and your coworkers are upset they dont have the materials they need to finish their job, For a...

Answered: 1 week ago

Question

★★★★★

How will you know when athletes reach the automatic stage? How will the focus of your coaching change in this final stage? Describe how to perform this skill according to the abstracting-rules...

Answered: 1 week ago

Question

★★★★★

African American enslavement did not slowly disappear in 19 th century America. Rather, it went full force until 1860 and 1861, the South seceded from the Union because the election of Abraham...

Answered: 1 week ago

Question

★★★★★

1. Design login.html which has ID and Password in text box with Login button and also Create Account link. 2. Create Account link goes to newAccount.html which has ID and Password in text box with...

Answered: 1 week ago

Question

★★★★★

Quality Chicken grows and processes chickens. Each chicken is disassembled into five main parts. Information pertaining to production in July 2012 is: Joint cost of production in July 2012 was $50. A...

Answered: 1 week ago

Question

★★★★★

Lucy Price has always been interested in stocks. She has decided to invest $2,000 once every year into an equity mutual fund that is expected to produce a return of 6 percent a year for the...

Answered: 1 week ago

Question

★★★★★

Effect of Tax Credit versus Tax Exemption. Explain and calculate the differences resulting from a $2,000 tax credit versus a $2,000 tax deduction for a single taxpayer with $40,000 of pre-tax income.

Answered: 1 week ago

Question

★★★★★

After graduating from college last fall, Jennifer Grant took a job as a consumer credit analyst at a local bank. From her work reviewing credit applications, she realizes that she should begin...

Answered: 1 week ago

Question

★★★★★

State the Central Limit Theorem.

Answered: 1 week ago

Question

★★★★★

Consider the Poisson probability distribution shown here: P (x) = 3xe-3 / x! (x = 0, 1, 2, .... ) What is the value of ?

Answered: 1 week ago

Question

★★★★★

As a female, how likely are you to follow tradition and change your last name to your husband's when you get married? This was one of the questions investigated in research published in Advances in...

Answered: 1 week ago

Previous Question Next Question