Please show the steps to these 2 questions

52)Jane and Joe each earn $55 000 and have estimated that over the next 20 years will need 60 percent of total income to manage debt, pay off the mortgage, and pay for children's postsecondary education. How much life insurance should they apply for? (Investment returns are 6 percent.)

A) $587 000

B) $1 320 000

C) $843 000

D) $757 000

Answer: D

Categories: Determining the Amount of Life Insurance Needed

42)Your insurance policy carries a $200 deductible for collision and $500 deductible for comprehensive. If you cause an accident which results in the following repairs and losses to your car and possessions, what will be the reimbursement from the insurance company under your collision and comprehensive coverage?

Replacement of trailer hitch $500

Replacement of rear bumper $700

Replacement of computer (in trunk) $400

Replacement of rear windshield $400

A) $1400

B) $1800

C) $1500

D) nothing

Answer: A

Categories: Loss of or Damage to Insured Automobile