HUMEWOR! Chapter 9 Homework Save Score: 0 of 1 pt 1 of 5 (1 complete) HW Score: 12.5%, 1 of 8 pts Problem P9-3 (similar to) Question Help Joetta Hernandez is a single parent with two children and earns $41,000 a year. Her employer's group life insurance policy would pay 25 times her salary. She also has $54,667 saved in a 401(k) plan, 54,556 in mutual funds, and a $2,733 certificate of deposit. She wants to purchase term life insurance for 15 years, until her youngest child is self-supporting. She is not concerned about her outstanding mortgage, as the children would live with her sister in the event of Joetta's death Assuming she can receive a 2 percent after-tax, after-inflation return on insurance proceeds, use the earnings multiple method to calculate her insurance need. How much more insurance does Joetta need to buy? What other information would you need to know to use the needs approach to calculate Joetta's Insurance coverage? Click on the table icon to view the PVIFA table ! Assuming she can receive a 2 percent after-tax, after-inflation return on insurance proceeds and using the earnings multiple method, Joetta's insurance need is $ (Round to the nearest dollar) uit ns Et Enter your answer in the answer box and then click Check Answer 1 pan Clear A CHASE remaining Finance 134747 Summer 20 search IT MIN SLUI: 12.5%, 10 Problem Data Table elp -X Joetta Her has $54,6 youngest Assuming much more Click on ber n 2% d. Ho overag Assuming (Round to 1 2 3 4 5 6 7 1% 0.990 1.970 2.941 3.902 4.853 5.795 6.728 7.652 8.566 9.471 10.368 11.255 12.134 0.980 1.942 2.884 3.808 4.713 5601 6.472 7.325 8.162 8.983 9.787 10.575 11.348 Present Value of an Annuity of $1 (PVIFA) 3% 4% 5% 6% 7% 0.971 0.962 0.952 0.943 0935 1.913 1.886 1859 1.833 1.808 2.829 2.775 2.723 2.673 2.624 3.717 3.630 3.546 3.465 3.387 4.580 4.452 4329 4212 4.100 5.417 5.242 5.076 4 917 4.767 6.230 6.002 5.786 5582 5.389 7.020 6.733 6.463 6210 5.971 7.786 7.435 7. 108 6.802 6.515 8.530 8.111 7.722 7.360 7.024 9.253 8.760 8.306 7.887 7.499 9.954 9.385 8.863 8.384 7.943 10.635 9.986 9 394 8.853 8.358 8% 0.926 1.783 2577 3.312 3.993 4.623 5.206 5.747 6.247 6.710 7.139 7.536 7.904 9% 0.917 1.759 2531 3240 3 890 4.486 5.033 5.535 5.995 6.418 6.805 7.161 7.487 10% 0909 1.736 2.487 3.170 3.791 4.355 4.868 5335 5.759 6.145 6.495 6.814 7.103 8 9 10 11 12 13 Enter your Print 1 Done part remain Finance 134747 Summer 2020 hac arch E a Score! U OT 1 pt 1 of 5 (1 complete) HW Score: 12.5%, 1 Problem Data Table - X le Joetta Hed has $54,6 youngest Assuming much more Click on the Ild bve Assuming (Round to 14 15 16 17 18 19 20 21 22 23 24 25 30 40 50 13004 13.865 14.718 15,562 16 398 17 226 18.046 18 857 19.660 20.456 21.243 22.023 25,808 32.835 39.196 12.106 12.849 13.578 14 292 14.992 15.678 16.351 17.011 17.658 18.292 18.914 19.523 22 396 27.355 31.424 11.296 11.938 12.561 13.166 13.754 14 324 14.877 15.415 15.937 16.444 16.936 17.413 19 600 23.115 25.730 10.563 11.118 11.652 12.166 12.659 13 134 13.590 14.029 14.451 14 857 15.247 15.622 17.292 19.793 21.482 9899 10.380 10.838 11.274 11.690 12.085 12.462 12.821 13.163 13.489 13.799 14.094 15.372 17.159 18.256 9 295 9.712 10.106 10.477 10.828 11.158 11.470 11.764 12.042 12.303 12.550 12.783 13.765 15.046 15.762 8.745 9.108 9.447 9.763 10.059 10.336 10.594 10.836 11.061 11.272 11.469 11.654 12.409 13.332 13.801 8.244 8.559 8.851 9 122 9.372 9.604 9.818 10.017 10 201 10.371 10.529 10.675 11.258 11.925 12 233 7.786 8.061 8.313 8.544 8.756 8.950 9.129 9.292 9.442 9580 9.707 9.823 10.274 10.757 10.962 7.367 7.606 7.824 8.022 8 201 8.365 8.514 8.649 8.772 8.883 8.985 9.077 9.427 9.779 9 915 Enter your Print Done 1 part remain Finance 134742 Summer 2020 bucadia a search o RI HUMEWOR! Chapter 9 Homework Save Score: 0 of 1 pt 1 of 5 (1 complete) HW Score: 12.5%, 1 of 8 pts Problem P9-3 (similar to) Question Help Joetta Hernandez is a single parent with two children and earns $41,000 a year. Her employer's group life insurance policy would pay 25 times her salary. She also has $54,667 saved in a 401(k) plan, 54,556 in mutual funds, and a $2,733 certificate of deposit. She wants to purchase term life insurance for 15 years, until her youngest child is self-supporting. She is not concerned about her outstanding mortgage, as the children would live with her sister in the event of Joetta's death Assuming she can receive a 2 percent after-tax, after-inflation return on insurance proceeds, use the earnings multiple method to calculate her insurance need. How much more insurance does Joetta need to buy? What other information would you need to know to use the needs approach to calculate Joetta's Insurance coverage? Click on the table icon to view the PVIFA table ! Assuming she can receive a 2 percent after-tax, after-inflation return on insurance proceeds and using the earnings multiple method, Joetta's insurance need is $ (Round to the nearest dollar) uit ns Et Enter your answer in the answer box and then click Check Answer 1 pan Clear A CHASE remaining Finance 134747 Summer 20 search IT MIN SLUI: 12.5%, 10 Problem Data Table elp -X Joetta Her has $54,6 youngest Assuming much more Click on ber n 2% d. Ho overag Assuming (Round to 1 2 3 4 5 6 7 1% 0.990 1.970 2.941 3.902 4.853 5.795 6.728 7.652 8.566 9.471 10.368 11.255 12.134 0.980 1.942 2.884 3.808 4.713 5601 6.472 7.325 8.162 8.983 9.787 10.575 11.348 Present Value of an Annuity of $1 (PVIFA) 3% 4% 5% 6% 7% 0.971 0.962 0.952 0.943 0935 1.913 1.886 1859 1.833 1.808 2.829 2.775 2.723 2.673 2.624 3.717 3.630 3.546 3.465 3.387 4.580 4.452 4329 4212 4.100 5.417 5.242 5.076 4 917 4.767 6.230 6.002 5.786 5582 5.389 7.020 6.733 6.463 6210 5.971 7.786 7.435 7. 108 6.802 6.515 8.530 8.111 7.722 7.360 7.024 9.253 8.760 8.306 7.887 7.499 9.954 9.385 8.863 8.384 7.943 10.635 9.986 9 394 8.853 8.358 8% 0.926 1.783 2577 3.312 3.993 4.623 5.206 5.747 6.247 6.710 7.139 7.536 7.904 9% 0.917 1.759 2531 3240 3 890 4.486 5.033 5.535 5.995 6.418 6.805 7.161 7.487 10% 0909 1.736 2.487 3.170 3.791 4.355 4.868 5335 5.759 6.145 6.495 6.814 7.103 8 9 10 11 12 13 Enter your Print 1 Done part remain Finance 134747 Summer 2020 hac arch E a Score! U OT 1 pt 1 of 5 (1 complete) HW Score: 12.5%, 1 Problem Data Table - X le Joetta Hed has $54,6 youngest Assuming much more Click on the Ild bve Assuming (Round to 14 15 16 17 18 19 20 21 22 23 24 25 30 40 50 13004 13.865 14.718 15,562 16 398 17 226 18.046 18 857 19.660 20.456 21.243 22.023 25,808 32.835 39.196 12.106 12.849 13.578 14 292 14.992 15.678 16.351 17.011 17.658 18.292 18.914 19.523 22 396 27.355 31.424 11.296 11.938 12.561 13.166 13.754 14 324 14.877 15.415 15.937 16.444 16.936 17.413 19 600 23.115 25.730 10.563 11.118 11.652 12.166 12.659 13 134 13.590 14.029 14.451 14 857 15.247 15.622 17.292 19.793 21.482 9899 10.380 10.838 11.274 11.690 12.085 12.462 12.821 13.163 13.489 13.799 14.094 15.372 17.159 18.256 9 295 9.712 10.106 10.477 10.828 11.158 11.470 11.764 12.042 12.303 12.550 12.783 13.765 15.046 15.762 8.745 9.108 9.447 9.763 10.059 10.336 10.594 10.836 11.061 11.272 11.469 11.654 12.409 13.332 13.801 8.244 8.559 8.851 9 122 9.372 9.604 9.818 10.017 10 201 10.371 10.529 10.675 11.258 11.925 12 233 7.786 8.061 8.313 8.544 8.756 8.950 9.129 9.292 9.442 9580 9.707 9.823 10.274 10.757 10.962 7.367 7.606 7.824 8.022 8 201 8.365 8.514 8.649 8.772 8.883 8.985 9.077 9.427 9.779 9 915 Enter your Print Done 1 part remain Finance 134742 Summer 2020 bucadia a search o RI