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Upload to the assignment in Canvas your Excel file for each of the two problems. You can upload one or two files. 1. Life

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Upload to the assignment in Canvas your Excel file for each of the two problems. You can upload one or two files. 1. Life Insurance Needs Couple With No Children Jenny and Lisa live in Austin, TX and have been married for 8 years. Jenny's net salary is $147,000 yearly. Lisa's net salary is $190,000 yearly. They have the following joint assets... Home (FMV) Mutual fund account $730,000 $200,000 Audi 2023 Q5 45 S line Premium quattro SUV (FMV) $53,900 GMC Sierra Limited (FMV) $40,000 Each has a retirement plan with their employer's. Jenny has $400,000 in her plan and Lisa has $620,000. Jenny and Lisa agree they want 100% salary replacement for 2 years if one of them should die. They are assuming a 6% interest rate. Jenny wants to be cremated ($7,000) and Lisa to spread her ashes in some of the places they have been camping. Lisa wants a full-on funeral with all the trimmings and burial in the nearby cemetery ($22,000). Additionally, they want to be able to pay off their home with a mortgage of $650,000, the Audi with an outstanding loan of $40,000 and the GMC Sierra with an outstanding loan of $10,000. How much life insurance would Jenny need? How much life insurance would Lisa need?

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