Question: Upload to the assignment in Canvas your Excel file for each of the two problems. You can upload one or two files. 1. Life

Upload to the assignment in Canvas your Excel file for each of

Upload to the assignment in Canvas your Excel file for each of the two problems. You can upload one or two files. 1. Life Insurance Needs Couple With No Children Jenny and Lisa live in Austin, TX and have been married for 8 years. Jenny's net salary is $147,000 yearly. Lisa's net salary is $190,000 yearly. They have the following joint assets... Home (FMV) Mutual fund account $730,000 $200,000 Audi 2023 Q5 45 S line Premium quattro SUV (FMV) $53,900 GMC Sierra Limited (FMV) $40,000 Each has a retirement plan with their employer's. Jenny has $400,000 in her plan and Lisa has $620,000. Jenny and Lisa agree they want 100% salary replacement for 2 years if one of them should die. They are assuming a 6% interest rate. Jenny wants to be cremated ($7,000) and Lisa to spread her ashes in some of the places they have been camping. Lisa wants a full-on funeral with all the trimmings and burial in the nearby cemetery ($22,000). Additionally, they want to be able to pay off their home with a mortgage of $650,000, th Audi with an outstanding loan of $40,000 and the GMC Sierra with an outstanding loan of $10,000. How much life insurance would Jenny need? How much life insurance would Lisa need? CNG Sear A ATH Currant Cense an

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!

Final Excel Project Background: You are a new tax staff accountant at a local CPA firm. During your first week on the job a client, Ms. Macchiato, came into the firm seeking tax advice. In...

Brothers Harry and Herman Hausyerday began operations of their machine shop (H & H Tool, Incorporated) on January 1, 2020. The annual reporting period ends December 31. The trial balance on January...

please help! first 5 pictures are questions, next pictures are excel sheets i'm meant to fill out Acct 3307-002 & 003 Spring 2020 Steven paid $10,000 in alimony to a former spouse and $24,000 in...

Question: How do I program this? C Programming: A Modern Approach 2 nd edition by K.N. King, Lecture notes, slides and homework conducted to date Palindrome.txt input file DieWithError.c helper...

Could you help me answer sheet12? From 12.06-12.11 HH6798 I SEE THE LIGHT www.cybertext.com, The Book List, Building Blocks of Accounting--A Managerial Perspective, Enter password, Upload Your ready...

Hello I need help with a tax research. The attached document contains the question and the instruction on how to do the tax research. I. Title: Requisite Tax Research II. Introduction: In this...

Section 1. Another utilization of cash flow analysis is setting the bid price on a project. To calculate the bid price, we set the project NPV equal to zero and find the required price. Thus, the bid...

this assignment is regarding return the tax of a client by using handy taxassignment. can anyone help me to complete the income section of this assignment, just write the solution in a pdf file?I...

Processing steps for 18 questions are required. Thanks so much for help! Queensland University of Technology QUT Business School School of Accountancy AYB 219 Taxation Law HandiTax Group Project...

this is all the information required to do assignment Personal Financial Planning Mini-Case Jeff and Mary Douglas, a couple in their mid-30s, have two children - Paul age 6 and Marcy age 7. The...

Compute the adiabatic flame temperature for burning acetylene in theoretical air, both at 25 8C. If burned in pure oxygen, estimate the temperature that could be expected.

How might sustainability issues be incorporated into the design of facilities and workplaces? Provide examples and explain your reasoning.

The growth of Mary's income is modeled using the continuous streamf ( t ) = 3 , 0 0 0 + 0 . 0 5 t 2 where t is the number of months since the beginning of the year. Calculate the total income that...

Income computation for a manufacturing firm. The following data relate to GenMet, a U.S.-based consumer goods manufacturing firm, for the fiscal year ending October 31, 2008. Reported amounts are in...

As economic conditions became more demanding for some employers, other firms continued to recruit people for jobs. One firm, Kia Motors America, added a large number of jobs at one of its newer...

The ground-state wave function of a hydrogen atom is = (1/xa3)1/2e-r1ao where ao = 53 pm (the Bohr radius). (a) Calculate the probability that the electron will be found somewhere within a small...

New Wave Technology Inc. manufactures and sells two products, MP3 players and satellite radios. The fixed costs are $300,000, and the sales mix is 40% MP3 players and 60% satellite radios. The unit...

Devine Brown opened Devines Carpet Cleaners on March 1. During March, the following transactions were completed. Mar. 1 Invested $10,000 cash in the business. 1 Purchased used truck for $6,000,...

Design a minimum-mass symmetric three-bar truss (the area of member 1 and that of member 3 are the same) to support a load P, as was shown in Fig. 2.9. The following notation may be used: Pu = P cos...

8-19. What role should job descriptions play in training at Apex?

8-20. Explain in detail what you would do to improve the training process at Apex. Make sure to provide specific suggestions, please.

8-26. Based on what you read in this Dessler Human Resource Management chapter and what you may access via the Web, develop a detailed training program for one of these hotel positions: security...