https://www.mathx.com/student/PlayerHomework aspx da 40106475 3&questionid 388 flushed true&cld 4093S29¢i yes Survey of Finance Homework: Homework Five (Chapters 13,14 and 15) Save Score: o of 1 pt 8 of 40 (36 complete HW Score: 74.96%, 29.98 of 40 pts Planning tt 3 (bookstatic) la Question Help Amount of Insurance Needed. Peter is married and has two children. He wants to be sure that he has sufficient life insurance to take care of his family if he dies Peter's wife is a homemaker but attends college part-time pursuing a law degree. It will cost approximately $40,000 for her to finish her since the children education are teenagers. Peter feels he will only need to provide the family with income the next 10 further calculates that the household expenses run they were per year the balance the mortgage $30,000. Peter set up a college fund for his children when babies, and it contains sufficient funds for them to attend college. Assuming that Peters wife can invest the insurance proceeds at 8%. calculate the amount of insurance Peter needs to purchase The amount of life insurance Peter would need to purchase is S oRound to the nearest dollar) Enter your answer in the answer box and then click Check Answer All parts showing