Joetta Hernandez is a single parent with two children and earns ?$37 comma 200 a...
60.1K
Verified Solution
Link Copied!
Question
Finance
Joetta Hernandez is a single parent with two children and earns ?$37 comma 200 a year. Her? employer's group life insurance policy would pay 2.5 times her salary. She also has ?$49 comma 600 saved in a? 401(k) plan, ?$4 comma 133 in mutual? funds, and a ?$2 comma 480 CD. 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?
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.