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Teresa is a single parent that earns $45,000 per year. She estimates that her funeral costs would be $15,000 and would like to set up
Teresa is a single parent that earns $45,000 per year. She estimates that her funeral costs would be $15,000 and would like to set up a college fund for her daughter at $60,000. Teresa would also like her daughter to receive a lump sum upon her death to cover her care for the next 10 years which is estimated at $20,000 a year.
- Use the income method to calculate Teresa's life insurance needs (Show calculation
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