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I need help figuring out the equation used to find the answers to these 5 questions? Chapter 10 LO 10.1 Question 1 (2 points) Question
I need help figuring out the equation used to find the answers to these 5 questions?
Chapter 10 LO 10.1 Question 1 (2 points) Question 1 options: You and your spouse are in good health and have reasonably secure careers. Each of you makes about $27,700 annually. You own a home with an $99,400 mortgage, and you owe $29,200 on car loans, $7,700 in personal debts and $8,800 on credit card loans. You have no other debts. You have no plans to increase the size of your family in the near future. Average funeral expenses for the area are $7,700. Estimate your total insurance needs using the DINK method. (Omit the comma and "$" sign in your response.) 80250 Save Chapter 10 LO 10.1 Question 2 (2 points) Question 2 options: Mark and Parveen are the parents of three young children. Mark is a store manager in a local supermarket. His gross salary is $82,900 per year. Parveen is a full-time stay-at-home mom. Use the easy method to estimate the family's life insurance needs. Note: Round your answer to the nearest whole number(i.e. 345224, 453657, 877912). Omit the COMMA and "$" sign in your response. 40621 Save Chapter 11 LO 11.4 Question 3 (2 points) Question 3 options: Assume you are in the 21 percent tax bracket and purchase a 4.6 percent municipal bond. Calculate the taxable equivalent yield for this investment. Note: Round your answer to 2 decimal places (i.e. 1.25 2.44 7.12 0.19 5.22). Omit the "%" sign in your response. 5.82 % Save Chapter 11 LO 11.5 Question 4 (2 points) Question 4 options: Assume that three years ago you purchased a corporate bond that pays 8 percent. The purchase price was $1,180. What is the annual dollar amount of interest that you receive from your bond investment? Note: Round your answer to the nearest whole dollar amount (i.e. 105 114 95 87 109). Omit the COMMA and "$" sign in your response. 94 Save Chapter 11 LO 11.6 Question 5 (2 points) Question 5 options: Determine the current yield on a corporate bond investment that has a face value of $1,200, pays 3 percent, and has a current price of $1,320. Note: Round your answer to 1 decimal place (i.e. 1.4 5.5 7.9 10.2 14.1 6.6). Omit the "%" sign in your response. 2.7 % SaveStep by Step Solution
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