Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Using the Human Life Value method, how much life insurance should you purchase if you have 45 years until retirement, an annual income of $61,500

Using the "Human Life Value" method, how much life insurance should you purchase if you have 45 years until retirement, an annual income of $61,500 received at the start of each years, and a time value of money of 7%? (Assume 80% income replacement, ignore taxes and inflation.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Small Business Management Launching and Growing New Ventures

Authors: Justin Longenecker, Leo Donlevy, Terri Champion, William Petty, Leslie Palich, Frank Hoy

6th Canadian edition

176532218, 978-0176532215

More Books

Students also viewed these Finance questions