1. Mr. Albert is 40 years old and is married to Arianna, who is a full-time housewife. Mr. albert is earning an annual income of USD100,000 and has no life insurance cover. He is planning to retire at 60 years old. Assume that the weighted rate of return of his investment is 8 percent per annum.

Compute the amount of life insurance that Mr.Albert needs to meet his income requirement.

B)Supposed Mr. albert has shoulder surgery which costs USD20,000. His health insurance plan includes a USD2,000 annual deductible, 20% coinsurance, and an out-of-pocket maximum of USD4,000.

Compute the amount covered by the insurance company and the amount of medical fees borne by Mr. Albert