Using the financial needs approach and assuming the following expenses, what is the minimum amount of...

 

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Using the financial needs approach and assuming the following expenses, what is the minimum amount of life insurance Michelle should have today to protect the family? Round your answer to 2 decimal places. Final expenses of $16,008 Annual childcare costs of $13,841 per year for 10 years ■ College funding for Beau ($62,721) and Elizabeth ($58,202) ■ Mortgage of $225,000 Auto loans of $43,000 Student loans of $50,500 Credit card debt of $550 Return on the invested money is 9% The expected inflation rate is 3% Emergency fund need of roughly $23,064 ($30,564 need - $7,500 cash) Using the financial needs approach and assuming the following expenses, what is the minimum amount of life insurance Michelle should have today to protect the family? Round your answer to 2 decimal places. Final expenses of $16,008 Annual childcare costs of $13,841 per year for 10 years ■ College funding for Beau ($62,721) and Elizabeth ($58,202) ■ Mortgage of $225,000 Auto loans of $43,000 Student loans of $50,500 Credit card debt of $550 Return on the invested money is 9% The expected inflation rate is 3% Emergency fund need of roughly $23,064 ($30,564 need - $7,500 cash)

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