can i please get some help with this problem. Thank you

TUI Tiunciu Tummily ThouaIC FIVCTIOTTOTEUI 22EW5 Print 1. Joetta Hernandez is a single parent with two children and earns $54,300 a year. Her employer's group life insurance policy would pay 2.5 times her salary. She also has $72,400 saved in a 401(k) plan, $6,033 in mutual funds, and a $3,620 certificate of deposit. She wants to purchase term life insurance for 15 years, until her youngest child is self-supporting. She is not concerned about her outstanding mortgage, as the children would live with her sister in the event of Joetta's death. Assuming she can receive a 2 percent after-tax, after-inflation return on insurance proceeds, use the earnings multiple method to calculate her insurance need. How much more insurance does Joetta need to buy? What other information would you need to know to use the needs approach to calculate Joetta's insurance coverage? Click on the table icon to view the PVIFA table 1. Assuming she can receive a 2 percent after-tax, after-inflation return on insurance proceeds and using the earnings multiple method, Joetta's insurance need is $ (Round to the nearest dollar) need How much more insurance does Joetta need to buy? What other information would to know to use the needs approach to calculate Joetta's insurance coverage? (Select the best you choice below) A. Joetta needs to buy $652,059 of insurance. Since Joetta is a single parent, some needs included in the needs approach method are not relevant. To use this method, Joetta would need specific information on projected amounts for cleanup funds, debt elimination funds excluding the mortgage, educational expenses for the children, and the availability of Social Security to assist with dependency expenses. Joetta can also consider the effect of existing assets to reduce the amount of insurance needed. OB. Joetta needs to buy $380,559 of insurance. Since Joetta is a single parent, some needs included in the needs approach method are not relevant. To use this method, Joetta would need specific information on projected amounts for cleanup funds, debt elimination funds excluding the mortgage, educational expenses for the children, and the availability of Social Security to assist with dependency expenses. Joetta can also consider the effect of existing assets to reduce the amount of insurance needed. 1: Data Table Present Value of an Annuity of $1 (PVIFA) 10.594 1.470 9 10 1 2 3 4 5 6 PARENCHY GASPAN72898 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 30 40 50 1% 0.990 1.970 2.941 3.902 4.853 5.795 6.728 7.652 8.566 9.471 10.368 11.255 12.134 13.865 14.718 15 562 16.398 17.226 18.046 18.857 19.660 20.456 21.243 22.023 25.808 32.835 39.196 2% 0.980 1.942 2.884 3.808 4.713 5.601 6.472 7.325 8.162 8.983 9.787 10.575 11 348 12.106 12.849 13.578 14 292 14.992 15.678 16.351 17.011 17.658 18.292 18.914 19.523 22.396 27.355 31.424 Present Value of an Annuity of $1 (PVIFA) 4% 594 0.971 0962 0.952 0.943 1.913 1.886 1.859 1.833 2.829 2.775 21723 2.673 3.717 3.630 3 546 3.465 4.580 4.452 4.329 4212 5.417 5242 5.076 4.917 6.230 6.002 5.786 5.582 7.020 6.733 6.463 6210 7.786 7.435 7.108 6.802 8.530 8.111 7.722 7.360 9.253 8.760 8.306 7.887 9.954 9.385 8 863 8.384 10 635 9.986 9.394 8.853 11.296 10.563 9.899 9295 1938 11 118 10 380 9.712 !!!!!!! 4.561 11.652 10.838 10 106 13 166 12. 166 11.274 10.477 13.754 12.659 11.690 10.828 14.324 13 134 12 085 11.158 14.877 13.590 12.462 11.470 15.415 14.029 12.821 11.764 15.937 14.451 13 163 12.042 16.444 14.857 13.489 12.303 ISELLERS 16.936 15.247 13.799 12.550 CHEERGET 17 413 15.622 14.094 12.783 19.600 17.292 15:372 13.765 23.115 19.793 17 159 15.0 046 25.730 21.482 18.256 15.762 3% Print Done DELL 0.935 1.808 2624 3.387 4.100 4.767 5.389 5.971 6.515 7.024 499 7.943 8.358 8 745 9.108 19.447 9.763 10.059 10 336 10 594 10 836 11:061 11.272 11:469 11.654 12.409 13 332 13.801 8% 0.926 1.783 2.577 3.312 3.993 4.623 5 206 5.747 6.247 6.710 7.139 7536 7 904 8 244 8.559 8.851 9.122 9.372 9.604 9.818 10.017 10.201 10.371 10.529 10.675 11.258 11.925 12.233 9% 10% 0.917 0.909 1.759 1.736 2.531) 2.487 3.240 3.170 3.890 3.791 4.486 4 355 5.033 4.868 5.535 5.335 5.995 5.759 6.418 6.145 6.805 6.495 7.161 6.814 7:487 7.103 7.786 7.367 8.061 7.606 8.313 7.824 8.544 8.022 8.756 8.201 8.950 8.365 9 129 8.514 9.292 8.649 9.442 8.772 9.580 8.883 9.707 8.985 9.823 9.077 10.274 9.427 10.757 9.779 10.962 9.915 TUI Tiunciu Tummily ThouaIC FIVCTIOTTOTEUI 22EW5 Print 1. Joetta Hernandez is a single parent with two children and earns $54,300 a year. Her employer's group life insurance policy would pay 2.5 times her salary. She also has $72,400 saved in a 401(k) plan, $6,033 in mutual funds, and a $3,620 certificate of deposit. She wants to purchase term life insurance for 15 years, until her youngest child is self-supporting. She is not concerned about her outstanding mortgage, as the children would live with her sister in the event of Joetta's death. Assuming she can receive a 2 percent after-tax, after-inflation return on insurance proceeds, use the earnings multiple method to calculate her insurance need. How much more insurance does Joetta need to buy? What other information would you need to know to use the needs approach to calculate Joetta's insurance coverage? Click on the table icon to view the PVIFA table 1. Assuming she can receive a 2 percent after-tax, after-inflation return on insurance proceeds and using the earnings multiple method, Joetta's insurance need is $ (Round to the nearest dollar) need How much more insurance does Joetta need to buy? What other information would to know to use the needs approach to calculate Joetta's insurance coverage? (Select the best you choice below) A. Joetta needs to buy $652,059 of insurance. Since Joetta is a single parent, some needs included in the needs approach method are not relevant. To use this method, Joetta would need specific information on projected amounts for cleanup funds, debt elimination funds excluding the mortgage, educational expenses for the children, and the availability of Social Security to assist with dependency expenses. Joetta can also consider the effect of existing assets to reduce the amount of insurance needed. OB. Joetta needs to buy $380,559 of insurance. Since Joetta is a single parent, some needs included in the needs approach method are not relevant. To use this method, Joetta would need specific information on projected amounts for cleanup funds, debt elimination funds excluding the mortgage, educational expenses for the children, and the availability of Social Security to assist with dependency expenses. Joetta can also consider the effect of existing assets to reduce the amount of insurance needed. 1: Data Table Present Value of an Annuity of $1 (PVIFA) 10.594 1.470 9 10 1 2 3 4 5 6 PARENCHY GASPAN72898 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 30 40 50 1% 0.990 1.970 2.941 3.902 4.853 5.795 6.728 7.652 8.566 9.471 10.368 11.255 12.134 13.865 14.718 15 562 16.398 17.226 18.046 18.857 19.660 20.456 21.243 22.023 25.808 32.835 39.196 2% 0.980 1.942 2.884 3.808 4.713 5.601 6.472 7.325 8.162 8.983 9.787 10.575 11 348 12.106 12.849 13.578 14 292 14.992 15.678 16.351 17.011 17.658 18.292 18.914 19.523 22.396 27.355 31.424 Present Value of an Annuity of $1 (PVIFA) 4% 594 0.971 0962 0.952 0.943 1.913 1.886 1.859 1.833 2.829 2.775 21723 2.673 3.717 3.630 3 546 3.465 4.580 4.452 4.329 4212 5.417 5242 5.076 4.917 6.230 6.002 5.786 5.582 7.020 6.733 6.463 6210 7.786 7.435 7.108 6.802 8.530 8.111 7.722 7.360 9.253 8.760 8.306 7.887 9.954 9.385 8 863 8.384 10 635 9.986 9.394 8.853 11.296 10.563 9.899 9295 1938 11 118 10 380 9.712 !!!!!!! 4.561 11.652 10.838 10 106 13 166 12. 166 11.274 10.477 13.754 12.659 11.690 10.828 14.324 13 134 12 085 11.158 14.877 13.590 12.462 11.470 15.415 14.029 12.821 11.764 15.937 14.451 13 163 12.042 16.444 14.857 13.489 12.303 ISELLERS 16.936 15.247 13.799 12.550 CHEERGET 17 413 15.622 14.094 12.783 19.600 17.292 15:372 13.765 23.115 19.793 17 159 15.0 046 25.730 21.482 18.256 15.762 3% Print Done DELL 0.935 1.808 2624 3.387 4.100 4.767 5.389 5.971 6.515 7.024 499 7.943 8.358 8 745 9.108 19.447 9.763 10.059 10 336 10 594 10 836 11:061 11.272 11:469 11.654 12.409 13 332 13.801 8% 0.926 1.783 2.577 3.312 3.993 4.623 5 206 5.747 6.247 6.710 7.139 7536 7 904 8 244 8.559 8.851 9.122 9.372 9.604 9.818 10.017 10.201 10.371 10.529 10.675 11.258 11.925 12.233 9% 10% 0.917 0.909 1.759 1.736 2.531) 2.487 3.240 3.170 3.890 3.791 4.486 4 355 5.033 4.868 5.535 5.335 5.995 5.759 6.418 6.145 6.805 6.495 7.161 6.814 7:487 7.103 7.786 7.367 8.061 7.606 8.313 7.824 8.544 8.022 8.756 8.201 8.950 8.365 9 129 8.514 9.292 8.649 9.442 8.772 9.580 8.883 9.707 8.985 9.823 9.077 10.274 9.427 10.757 9.779 10.962 9.915