Joanie (works full time) and her husband Chachi (does not work) have one child aged three. They anticipate the child will marry at the age of 25 . The wedding is expected to cost $75,000 at that time. Based on a rate of 7.5%, how much life insurance death benefit coverage would they need on Joanie, to make sure they could pay for the wedding, if Joanie were to die? $25,000.00 $15,278.30 $368,169.22 $75,000.00 Question 8 2 pts Jim and Breena have one child. Jim works full time and earns $95,000 per year. Based on a 30 year time horizon and a discount rate of 8.0%, how much insurance death benefit coverage would Jim need to enable his family to receive the equivalent of his annual salary each year, if he were to die? $2,575,340.65 $1,069,489.42 $10,761,905.06 $3,143,441.12 Gail works full time and makes $86,000 per year in salary. Her husband Reggie does not work. Based on a 20 year time horizon and a rate of 10.0% interest, how much life insurance death benefit coverage should Gail have, in order to ensure that Reggie will continue to receive annual income of $86,000 ? $732,166.48 $860,000.00 $4,925,649.96 $86,000.00 Question 10 2 pts Tony (works full time) and his wife Zena (does not work) have a 10 year old child. They expect their child to marry at the age of 27 . They expect that at that time, the wedding will cost $100,000. Based on a rate of 6.5%, how much should Tony carry in life insurance death benefit just to pay for the child's future wedding? $291,704.64 $100,000.00 $50,000.00 $34,281.25