Tim and Tammy Are Updating Their Financial Plan and Are

question 6

Multiple Choice

Tim and Tammy are updating their financial plan and are concerned that they might not have enough life insurance coverage for their family, which includes two children, ages 4 and 10. They have determined that their annual income is $70,000 and their net worth is now $150,000. What is the amount of life insurance they should carry using the easy method?

• A) $140,000
• B) $343,000
• C) $490,000
• D) $700,000
• E) $750,000

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Definitions:

Tight Scheduling

Planning activities or tasks within a constrained time frame, leaving little room for adjustment or delays.

Ritual Apology

A formal or ceremonial expression of sorrow or regret for wrongdoing, typically following established conventions or procedures.

Abrupt

Sudden and unexpected, often with a sharp or steep transition.

Undermine

To gradually weaken, damage, or destroy something, often in a subtle or covert way.