Question: 8. Estimating Life Insurance Needs Using the DINK Method. You are a dual income, no kids family. You and your spouse have the following debts:

8. Estimating Life Insurance Needs Using the DINK Method. You are a dual income, no kids family. You and your spouse have the following debts:

Mortgage = $180,000; Auto loan = $10,000; Credit card balance = $2,000, and other debts of $6,000. Further, you estimate that your funeral will cost $4,000. Your spouse expects to continue to work after your death. Using the DINK method, what should be your need for life insurance? (Obj. 2)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Personal Finance Questions!

Svet Helo Save & Eat Chcemy Problem 12-9 Estimating Life Insurance Needs Using the DINK Method (L012-2] You are a dual-income, no kids family. You and your spouse have the following debts: Mortgage -...

Help with filling out the following worksheet: L3 8) Estimating Life Insurance Needs Using the DINK Method. Pg.43 You are a dual income family with no kids. You and your spouse have the f...

Could you please resolving this assignment. All the information and what to do are in the second tab. Problems: 2, 3, 4, 5 2. Calculating the Amount of Reimbursement from an Insurance Company. The...

Problem 12-9 Estimating Life Insurance Needs Using the DINK Method [LO12-2] You are a dual-income, no-kids family. You and your spouse have the following debts: Mortgage =$244,000; Auto loan =$19,600...

Q. 9 & 12 9. Estimating Life Insurance Needs Using the DINK Method. You are a dual-income, no-kids family. You and your spouse have the following debts: Mortgage = $190,000: Auto loan = $10,000;...

Problem 12-9 Estimating Life Insurance Needs Using the DINK Method (LO12-2] You are a dual-income, no-kids family. You and your spouse have the following debts: = = - = Mortgage = $203,000; Auto loan...

Answer is not $109,000 Save te B Problem 12-9 Estimating Life Insurance Needs Using the DINK Method (L012-2) You are a cual income, no-kids family. You and your spouse have the following debts:...

Problem 121 Calculating Life Expectancy [LO12-1] Using: Exhibit 12-2: determine the life expectancy of a 65-year-old male. Note: Ror yor answer to 1 decimal place. Source: CDC/NCHS, "National Vital...

Problem 1 2 - 9 Estimating Life Insurance Needs Using the DINK Method [ LO 1 2 - 2 ] You are a dual - income, no - kids family. You and your spouse have the following debts: Mortgage = $ 2 4 4 , 0 0...

J&J Enterprises wants to issue 20-year, $1,000 face value zero-coupon bonds. If each bond is to yield 7%, what is the minimum number of bonds J&J must sell if they wish to raise $5 million from the...

Emily runs her own business selling jewellery. She purchases the jewellery directly from jewellery makers in various countries and sells the jewellery in various upscale markets in Victoria. She uses...

Which of the following statements about the Lower - of - cost - or - Market is FALSE? An item can never be recorded at less than the Net Realifable Value of the item. Market Vatue is the same as...

As more people adopt AI technologies such as Amazons Echo, we will likely see _____. a. an increase in the volume of big data collected about individual preferences b. a decrease in the volume of big...

Alexandra Bronson, age 58, has done a very good job of accumulating savings over the years. She has all of her accounts at the same depository institution and has multiple accounts. Her balances are...

Bang Liu passed away recently at age 67. Among his assets where the following items. 1) Checking and savings accounts with a total balance of $45,000 with his widow, Fen, held in joint tenancy with...

(a) What other types of accounts are available to Kwaku? (b) How might he manage his accounts to earn as much interest as possible and keep his money safe? (c) How might he use electronic money...

LMNO Corporation was formed in 2011. It reported net income (loss) over the 2011 through 2017 tax years, before accounting for any net operating losses, as follows: 2011 $ (3,100) 2012 $ 27,400 2013...

EXHIBIT 13B-1 Present Value of $1; 1 (1+r)n Periods 4% 5% 6% 7% 8 9 10 11 -2345 67000 12345 67802 2222 222284 16 17 18 19 21 23 24 25 26 27 29 30 40 8% 9% 10% 11% 12% 13% 14% 15% 16% 17% 18% 19% 20%...

Springville Co. provided the following information for the year ended December 31, 20Y1: Work-in-process inventory - beginning $490,000 balance Work-in-process inventory ending balance $520,000...