Suppose that yours is a typical family. Your annual income is $55,000. Using the easy method, what should be your need for life insurance? (Do not round intermediate calculations.) Life insurance need $ 26,950
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- Not use excel Q)A man may take $50000 cash or 10 equal monthly payments on a life insurance policy, where the first payment is to be made immediately. What is the monthly payment if money is worth 3% compounded monthly?3. Congratulations! Your first baby was born yesterday and is healthy and strong. To guard against your premature death, you want to purchase a life insurance policy that will replace $58,000 of your annual income until your child is 20 years old. How much life insurance should you purchase, if you assume a 3% inflation rate? (Do NOT worry about Social Security or home production value for this example) 4. What formula did you use?Health Savings Accounts (LO 5.1) Charlene has family coverage in a qualifying high-deductible health insurance plan. She is 47 years old and wishes to contribute the maximum amount to her HSA. How much is she allowed to contribute and deduct in 2020?
- Can you please help me understand this equation 12 divided by .04 = 300? I am hoping to understand what financial gurus say that to know your retirement you take your monthly expenses x 300 because you can only take 4% of your retirement account to safely live off your retirement money. I cannot conceptualize dividing a number with a percentage. Please answer fast i give you upvote.12 What is the maximum monthly social security benefit a person can receive if retiring exactly 1 year after full retirement age in 2022? A. $3,613 B. $3,345 C. $3,500 D. $4,148 Additional information for this question: 2022 max monthly SS benefit is $4,194 (Age 70) 2022 max monthly SS benefit is $3,345 (Full Retirement Age) 2022 max monthly SS benefit is $2,364 (Age 62) Benefits are increased annually to account for inflation (Cost of Living Adjustments). 2011-2021 Average = 1.60% 2022 = 5.9%Standard Insurance is developing a long - life insurance policy for people who outlive their retirement nest egg. The policy will pay out $240 comma 000240,000 on your 82 nd82nd birthday. You must buy the policy on your 65 th65th birthday. The insurance company can earn 55% on the purchase price of your policy. What is the minimum purchase price the insurance company should charge for this policy? Question content area bottom Part 1 What is the minimum purchase price the insurance company should charge for this policy?
- Subject :- Accounting You have discussed your retirement plans with your significant other and plan to move to a state with a lower cost of living upon retirement. You plan on living off $85,000 annually. You understand that your retirement account will likely yield a 5% return. Using the 4% Rule, how much money do you need in your retirement account upon retirement?(round to the nearest dollar){DO NOT INCLUDE COMMAS OR $}Kal.4 Consider a retirement financial plan where you begin contributing at the age of 25. In this plan you make annual payment of $5000 until you reach the age of 50. Starting from the age of 60 and continuing until the age of 70, you receive annual payments of $15000 assuming an annual discount rate of 3% evaluate the worthiness of this financial plan.Subject :- Accounting Helen is contemplating purchasing a single premium annuity from an insurance company. The insurance company is promising to pay $594000 after 8 years. They are estimating a 10% annual return. What amount should Helen pay the insurance company today? $742500 $275137 $277107 $594000
- If you had 10/20/5 coverage and were in a car accident causing injury to three people with injuries totaling $13,200, $8,200, and $6,200. (Leave no cells blank - be certain to enter "0" wherever required.) a. How much would you have to pay out of pocket? Out of pocket: b. If you had 50/100/50 coverage for the same scenario, how much would you have to pay out of pocket? Out of pocket: c. What is the difference? Difference:Q)A civil engineer planning for her retirement places 11% of her salary each year into a high-technology stock fund. If her salary this year (end of year 1) is $200,000 and she expects her salary to increase by 4% each year, what will be th future worth of her retirement fund after 14 years provided it earns 8% per year? Explain it correctly typed or handwriting. Not solve in excel works.5. Understanding term life insurance Deborah is a 25-year-old female with limited financial resources and a four-year-old son. Ideally, she would like to purchase permanent insurance coverage, but her primary concern is making sure her son will be taken care of financially if she dies before he graduates from college. Given her current financial situation, she is interested in a term life insurance policy that will last 20 years. Deborah goes to an insurance broker to purchase a policy and is shown the following two rate tables to help her choose between annual renewable and level premium term life insurance. Yearly Rates on Term Life Insurance Policies Annual Renewable Term Life Rates Policy Year Age 25 Age 40 Age 60 1 $119 $139 $252 5 $147 $219 $562 15 $176 $507 $1,313 20 $259 $1,054 $2,989 Total Cost 5 Years: $625 $897 $2,100 Total Cost 15 Years: $2,135 $6,205 $11,987 Total Cost 20 Years: $3,777 $8,287 $22,346 Level Premium…