Use of Financial Calculator TI BA II Plus Required

question 155

Multiple Choice

Use of Financial Calculator TI BA II Plus required. Your spouse earns $40 000 and you estimate that $25 000 of it will be required to meet future family expenses. If investment returns are 8 percent, what will the face amount of the life insurance coverage be to cover a period of 15 years' income?

• A)$214 000
• B)$218 000
• C)$375 000
• D)$196 500

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