Question: 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.

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: Mortgage = $190.000: Auto loan $10,000: Credit card balance $2.000 and other debts $4,000. Further, you estimate that your funeral will cost $6.000, Your spouse expects to continue to work after your death. Using the Dink method, what should be your need for life insurance? Total insurance need

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!

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 -...

Problem 1 2 - 9 Estimating Life Insurance Needs Using the DINK Method [ L 0 1 2 - 2 ] You are a dual - income, no - kids family. You and your spouse have the following debts: Mortgage = $ 2 6 0 , 0 0...

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...

I need chapters 18, 19, 20, and 21 for the workbook for Personal Finance by Madura!! Please help!!! Personal Finance, Fifth Edition by Jeff Madura BUILDING YOUR OWN FINANCIAL PLAN WORKBOOK INDEX...

Hi. I need Chapter 11 part 1-4 Let me know. Thanks! (it wont letme add more than $8, but I will give $12+ tip) Personal Finance, Fifth Edition by Jeff Madura BUILDING YOUR OWN FINANCIAL PLAN WORKBOOK...

I need Chapter 2 & 3 finished. Chapter 4 & 5, Chapter 6 & 7, & Chapter 8. Some of this is completed, but it isn't 100% finished. Let me know if you can get to it. Personal Finance, Fifth Edition by...

1 What are the main components of personal financial planning? Solve What is the purpose of a financial plan? Solve Identify some common actions taken to achieve financial goals. How does a job...

complete the year 2020 tax problem with the forms provided (fille out the all the forms for problem, all fhe forms needed to fill out for the problem are provided) Individual Tax Return Required: Use...

please fill out irs forms 8949, 8995, 6252, 8824, 8829 & 4562 from 2019 Matthew B. (age 42) and Courtney S. (age 41) Mumford are married and live at 11426 W. Antelope Drive, Sioux Falls, SD 57107....

Pack just received an order to produce 12,000 single-serving bags of gourmet, fancy-cut, low-fat potato chips. The order will require 16 preparation hours and 32 cooking and draining hours. Use the...

On May 1, 2018, Kirmer Corporation purchased $906,000 of 14% bonds, interest payable on January 1 and July 1, for $854,100 plus accrued interest. The bonds mature on January 1, 2024. Amortization is...

What is an uncorrected misstatement? What is the auditors responsibility for uncorrected misstatements during the completion stage of the audit engagement?

Sherry, who is 52 years of age, opened a Roth IRA three years ago. She has contributed a total of $14,400 to the Roth IRA ($4,800 a year). The current value of the Roth IRA is $20,900. In the current...