As the primary breadwinner in her household, Miranda is determining her life insurance needs. Her husband was
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Question:
As the primary breadwinner in her household, Miranda is determining her life insurance needs. Her husband was injured in a work-related accident and receives social security disability (SSDI) payments of $1008 a month. Their household expenses are $61,826 per year. If the prevailing interest rate is 5%, determine the amount of life insurance Miranda needs to purchase to cover the income shortfall. Round to the nearest thousand dollars.
Amount of life insurance needed?
Related Book For
Introduction To Probability And Statistics
ISBN: 9781133103752
14th Edition
Authors: William Mendenhall, Robert Beaver, Barbara Beaver
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