Amy and Mack Holly from Rapid City, South Dakota, have been married for three years. They recently bought a home costing $212,00

Question

2 years ago

6

Amy and Mack Holly from Rapid City, South Dakota, have been married for three years. They recently bought a home costing $212,00

0 using a $190,000 mortgage. They have no other debts. Mack earns $61,000 per year, and Amy earns $75,000. Each has a retirement plan valued at approximately $15,000. They recently received an offer in the mail from their mortgage lender for a mortgage life insurance policy of $190,000. Their only life insurance currently is a $19,000 cash-value survivorship joint life policy. They each would like to provide the other with support for at least five years if one of them should die.
Required:
Assuming $18,000 in final expenses and $20,000 allocated to help make mortgage payments, calculate the amount of life insurance they should purchase using the needs-based approach.

Business

1 answer:

mihalych1998 [28] · Answer 1 · 2022-09-25T18:51:04+03:00

mihalych1998 [28]2 years ago

6 0

Answer:

I do not have time to answer this question, but you could answer this question on a calculator and find out the order and if its multiplying, subtracting, dividing or adding.

Explanation:

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