Question: 1 8 . Using the income method, determine the amount of insurance an individual would need, if their net income is $ 1 6 7

18. Using the income method, determine the amount of insurance an individual would need, if their net income is $167,000 and they want to provide for their family members for at least 30 years. Their assets total $180,000, their liabilities total $250,000, their two children's anticipated college education needs total $350,000, and their invalid mother's future nursing home expenses total $390,000.

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 Finance Questions!

Q:

Using the income method, determine the amount of insurance an individual would need, if their net income is $105,000 and they want to provide for their family members for at least 15 years. Their...

Q:

Using the income method, determine the amount of insurance an individual would need, if their net income is $115,000 and they want to provide for their family members for at least 27 years. Their...

Q:

11. Using the income method, determine the amount of insurance an individual would need, if their net income is $165,000 and they want to provide for their family members for at least 25 years. Their...

Q:

1 8 . Using the income method, determine the amount of insurance an individual would need, if their net income is $ 1 6 7 , 0 0 0 and they want to provide for their family members for at least 3 0...

Q:

Exit Ticket - Decision-Making Using decision-making learned in this chapter, pick one of the following items below for repair or purchase, and determine what would be the relevant and non-relevant...

Q:

i want the answer or solution to this Mid-test copy The University of the South Pacific Serving the Cook Islands, Fiji, Kiribati, Marshall Islands, Nauru, Niue, Samoa, Solomon Islands, Tokelau,...

Q:

Would be much appreciated if someone could work out 6,19&20 for me please ! 6 Calculate cash collections LO3 Emma's balance sheet showed an accounts receivable balance of $75000 at the beginning of...

Q:

Znarkel Inc. has calculated their Net Income For Accounting Purposes to be $5,072. The following information was included in their calculation of Net Income for Accounting, unless otherwise...

Q:

Znarkel Inc. has calculated their Net Income For Accounting Purposes to be $ 5,072 . The following information was included in their calculation of Net Income for Accounting, unless otherwise...

Q:

Problem #1 Walters, LLC produces knock-off watches. Each watch sells for $40.00. Walters produced and sold 100 watches last year. Use the following cost data to compute the variable cost per unit and...

Q:

You have been engaged for the audit of the Y Company for the year ended December 31, 2011. The Y Company is in the wholesale chemical business and makes all sales at 25% over cost. Following are...

Q:

Do you agree that corporate managers would manipulate their stocks value prior to a buyback or do you believe that corporations are more likely to initiate a buyback to enhance shareholder value?...

Q:

Options on stock index futures may settle on a cash basis or exercise the option to obtain the futures contract true or false

Q:

Skills necessary for success in marketing include Multiple select question. analytical thinking advertising industry experience infallibility ability to work with others

Q:

=+What steps would you want to take before participating in the conversation?

Q:

=+1. You are a social media manager for a local school system. Some of your colleagues have been watching some larger brands be creative with their writing style, embracing a snarky approach. What...

Q:

=+3. You are asked to do a social media communication audit for your university. Identify the internal and external characteristics of its social media presence, and make three recommendations based...