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this is the only other part that goes w question 3 Please use the following table to answer questions 3 and 4. Spouse A Spouse

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this is the only other part that goes w question 3 image text in transcribed
Please use the following table to answer questions 3 and 4. Spouse A Spouse B Market wages 80,000/year 20,000/year Home production 12,000/year 40,000/year Expenses (net of added income) 50,000/year 50,000/year Debt/funeral costs 220,000 220,000 3. This household has two children and wants to have them financially provided for over the next 25 years in the case of premature death of either spouse. How much life insurance should the household purchase for Spouse A if doing the income approach using a 3% rate? (5 points) Please use the following table to answer questions 3 and 4. Spouse A Spouse B Market wages 80,000/year 20,000/year Home production 12,000/year 40,000/year Expenses (net of added income) 50,000/year 50,000/year Debt/funeral costs 220,000 220,000 3. This household has two children and wants to have them financially provided for over the next 25 years in the case of premature death of either spouse. How much life insurance should the household purchase for Spouse A if doing the income approach using a 3% rate? (5 points) 4. How much life insurance should be purchased for Spouse B if using the expense approach, assuming 25 years and 3% rate? (5 points)

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