The household expenses according to their income

Assignment Help Financial Management

Reference no: EM131909053

Marty and Mary have jobs and contribute to the household expenses according to their income. Marty contributes 75% of the expenses and Mary contributes 25%. Currently, their household expenses are $30,000 annually. Marty and Mary have three children. The youngest child is 12, so they would like to ensure that they could maintain their current standard of living for at least the next eight years. They feel that the insurance proceeds could be invested at 6%. In addition to covering the annual expenses, they would like to make sure that each of their children has $25,000 available for college. If Marty were to die, Mary would go back to school part-time to upgrade her training as a nurse. This would cost $20,000. They have a mortgage on their home with a balance of $55,000. How much life insurance should they purchase for Marty?

Reference no: EM131909053

Questions Cloud

Percent of the newlywed children : What percent of the newlywed's children can be expected to have dimples? (The presence of dimples is dominant)

Discuss about the violation of norms : A is a reward or sign of approval from someone else for following norms, ranging from a smile to a material reward.

What is the definition of a bottleneck according to toc : What is the purpose of a planning and control system related to scheduling? What is the definition of a bottleneck according to TOC?

Polymerase copy the dna during a pcr reaction : 1. At what temperature does polymerase copy the DNA during a PCR reaction

The household expenses according to their income : Marty and Mary have jobs and contribute to the household expenses according to their income. How much life insurance should they purchase for Marty?

How many grams of dextrose are in the syringe : 1. What does (w/v) mean? 2. How many grams of dextrose are in the syringe? 3. What is the concentration of the dextrose solution, expressed in mg/mL?

Describe variations in host attitudes towards tourism : Identify and describe the benefits and challenges of intercultural relationships. Describe variations in host attitudes towards tourism.

Cost of equity and cost of capital after the repurchase : Suppose there are no taxes. What will be the firm value, cost of equity, and cost of capital after the repurchase?

What is the molecular weight of glucose : Complete the following table. Round atomic mass to the nearest whole number. Fill in the blank spaces with answer.

User Account

All Pages