Jue and Sam each want to be sure that if one of them dies young, the other would have enough life insurance to pay off their mortgage of $334,000 and provide an annual income for the other of $34,000 for 26 years. Assume the funds would get a 1.4% annual real rate of return. What amount of life insurance do they each need?

Answer rating: 100% (QA)

To determine the amount of life insurance Jue and Sam each need we need to calculate the present val... View the full answer