Surprise Jamie Lee and Ross were stunned to find that their family of two has grown to a family of fivel They were expecting twins, but when the babies were born, they discovered that they were actually the parents of triplets! Ross immediately had worries of being able to provide for the growing family diapers, formula, college expenses times three! What if something happened to him or Jamie Lee? How would the surviving parent be able to provide for such a large family? Jamie Lee and Ross decided to purchase life insurance for Ross because his is the higher income at this time and because it would be more devastating if his income was lost due to his death. They have allowed $8,300 for funeral costs Calculate their living expenses for 6 months to include all monthly expenses, excluding credit card debt and entertainment Note that Ross's mother lives close and will be providing childcare to their triplets once Jamie Lee goes back to work at the bakery for half days. His mom will have a hired nanny to assist, which will cost them $1.350 a month. Use the table below to determine the amount Jamie Lee and Ross should use when shopping for life insurance. Each answer must have a value for the assignment to be complete. Enter "O" for any unused categories. Current Financial Situation Asses: Checking account Savings account Emergency fund savings account A balance Come Lee Car Ross $48,000 $33,600 $72,000 $59,700 Student loan balance Credit card balance Carloans $2.500 Gross income Jamie Lee) $16,300 Net Income after takes Jamie Lee $19,400 Gross income Rossi $25,300 Net income after taus Ross) $11.800 Monthly Expenses: $19,300 Monge Property taxes SO Homeowners insurance $3,800 $7,300 Food Gas maintenance Credit card payment Carloan payment Entertainment $1,270 $430 $230 $175 $515 $290 $290 $292 $140 Surprise Jamie Lee and Ross were stunned to find that their family of two has grown to a family of fivel They were expecting twins, but when the babies were born, they discovered that they were actually the parents of triplets! Ross immediately had worries of being able to provide for the growing family diapers, formula, college expenses times three! What if something happened to him or Jamie Lee? How would the surviving parent be able to provide for such a large family? Jamie Lee and Ross decided to purchase life insurance for Ross because his is the higher income at this time and because it would be more devastating if his income was lost due to his death. They have allowed $8,300 for funeral costs Calculate their living expenses for 6 months to include all monthly expenses, excluding credit card debt and entertainment Note that Ross's mother lives close and will be providing childcare to their triplets once Jamie Lee goes back to work at the bakery for half days. His mom will have a hired nanny to assist, which will cost them $1.350 a month. Use the table below to determine the amount Jamie Lee and Ross should use when shopping for life insurance. Each answer must have a value for the assignment to be complete. Enter "O" for any unused categories. Current Financial Situation Asses: Checking account Savings account Emergency fund savings account A balance Come Lee Car Ross $48,000 $33,600 $72,000 $59,700 Student loan balance Credit card balance Carloans $2.500 Gross income Jamie Lee) $16,300 Net Income after takes Jamie Lee $19,400 Gross income Rossi $25,300 Net income after taus Ross) $11.800 Monthly Expenses: $19,300 Monge Property taxes SO Homeowners insurance $3,800 $7,300 Food Gas maintenance Credit card payment Carloan payment Entertainment $1,270 $430 $230 $175 $515 $290 $290 $292 $140
