Using the Income Method,determine the Amount of Insurance an Individual

question 48

Short Answer

Using the income method,determine the amount of insurance an individual would need,employing a factor of 10,if their net income is $65,000,their assets total $280,000,their liabilities total $130,000,their two children's anticipated college education needs total $730,000,and their invalid mother's future nursing home expenses total $290,000.
(a)$2,850,000
(b)$1,500,000
(c)$650,000
(d)$730,000

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