3 10 10 points Shaan and Anita are married and have two children, ages 8 and 10. Anita is a “nonworking” spouse who devotes all of her time to household activities. Estimate how much life insurance Shaan and Anita should carry. (Use $20,000) Answer is complete but not entirely correct. Insurance need $ 100,000 ×

9.4 Life Insurance; Do You Really Need It? Daryl is a single 25-year-old with no children. He has $75,000 in unpaid student loans, $10,000 in a savings account. His employer offers $50,000 of annually renewable term life insurance to him at no cost as an employee benefit. How much additional life insurance should he purchase? $0. $15,000. $25,000. $65,000.

Hi I have a question regarding Austrlian Retirement and Financial Planning. In this example, the couple are retired and one of them is ill and looking for a retirement home, the home is going to cost $450,000 deposit. Neither of the couple work and draw 50,000 from their super in order to stay afloat. They have 20,000 and 562,000 in super combined, have a 900,000 dollar home. They also have 10,000 worth of home contents, a 15,000 dollar vehicle, and 55,000 cash in the bank. It is important to note they have 0 debt and everything is fully paid off. Neither of them have ever received pension money or government support. Myrtle wishes to put bob in an aged care facility, and when that is done she wants to return to work part time. 1. How will Myrtle's income be funded of $40,000 per annum be financed now, in the future and when she retires in 10 years time?

You are the wage earner in a "typical family," with $60,000 gross annual income. Use the easy method to determine how much life insurance you should carry. O 60,000 O 120,000 294,000 420,000

3 Evan invested $30,000 in a segregated fund contract a few years ago and has been making annual deposits to the account regularly. He is approaching retirement and wishes to receive regular annual payments after retirement for as long as he lives to manage his expenses instead of a lump-sum payment at contract maturity. Which of the following benefits can be added to Evan's existing contract to meet his needs? ZnFadkJEYm91SVgxL1h6YUR1cUU5Zz09 → Guaranteed Retirement Income Benefit b. O Guaranteed Income Supplement Benefit c. O Guaranteed Lifetime Withdrawal Benefit d. Guaranteed Minimum Withdrawal Benefit a.

I really do not know why this one is popping up as incorrect. Please help

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c. How much will the family receive (to the nearest dollar)? 647.51/1-6 1-(1.005264 .OOS 647.51.146.4 = 94795.46 150000-94795.46-55204.54₁,6 = 33122.72 4. A couple are planning for retirement. They plan to retire at age 70. At that time they wish to be able to withdraw $7500 per month from their retirement account for a period of 25 years, reducing the balance to zero. How much should they start saving now in an account that pays 7.54% compounded monthly to achieve their goal? Assume that they will be able to earn at least 7.54% interest compounded monthly from now until they are age 95. nt How much interest is earned over the 65 year period? A = P(1 + £ ) m² FV= PMT ((1+1)^-1) 7500 (1.076+25-1)

You have 100/300/50 in insurance coverage. You just got into an accident with a car carrying 15 celebrating nurses. Their total medical bills come to $850,000. How much will your insurance company shell out for this accident? a. $50,000 b. $100,000 c. $300,000 d. $850,000

Kindly assist on questions below. (1) A person has wealth of $ 40000. If they have an accident they mush spend $ 30000 on car repairs. Their utility function is given by U = w1/2 where w is equal to their wealth . They do not get into an accident with 90% chance and they get into an accident with 10 % chance. What is the total fair premium for full insurance for this person. (2) Risk pooling can decrease risk if: a) Risks are independent b) risks are dependent c) enough people pool their risk d) if the amount if risk is small enough  e) if people have different risk preferences