Bill Jones, age 30, is currently earning $55,000 per year net of tax. For estate planning purposes,
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Bill Jones, age 30, is currently earning $55,000 per year net of tax. For estate planning purposes, he wants to ensure that his family maintains this level of income until his expected retirement at age 55. Assuming no other financial resources and no additional income, an annual after-tax return of 3%, and a payment is made at the beginning of each year, how much life insurance would Bill need now to meet this income requirement?
Related Book For
Introduction to Management Science A Modeling and Cases Studies Approach with Spreadsheets
ISBN: 978-0078024061
5th edition
Authors: Frederick S. Hillier, Mark S. Hillier
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