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Sue and Tom are assistant professor at a local university they both take home $40,000 per year after tax sue is 37 years old and tom 35 years old they have two children karen 13 mike 11 if one of them die they estimate that the remaining family member wo related questions

  • 1Sue and Tom are assistant professor at a local university they both take home $40,000 per year after tax sue is 37 years old and tom 35 years old they have two children karen 13 mike 11 if one of them die they estimate that the remaining family member wo

    Sue and Tom are assistant professor at a local university they both take home $40,000 per year after tax sue is 37 years old and tom 35 years old they have two children karen 13 mike 11 if one of them die they estimate that the remaining family member would need about 75% of the present combined pay to retain their current standard of living while the children are still dependent not include an extra $50 a month in child care expense that would be require in a single parent household they estimate that survivor benefit would total about $1000 per month in child support. both sue and tom are knowledgeable investor in the past average after tax return on their investment portfolio have exceeded the rate of inflation by about 3% if sue was to die today how much would tom and the children need in the family maintenance funds question 2 suppose tom and sue had a life insurance protection gap of $50,000 present the steps in sequence how both should proceed to search for protection to close the gap

  • 2please check my answer thanks :)Mike purchased a home the mortgage is $235,000 at 8 3/4 % for 25 years

    please check my answer thanks :)Mike purchased a home the mortgage is $235,000 at 8 3/4 % for 25 years. His annual property taxes on the home are $6,345 he also has to pay hazzard insurance in the amount of $1,479. What is the PITI payment of their loan ?I am not to sure about this oneThe choices are A. 1,849.45 B. 2,586.05 or C. 652.00My answer is c

  • 3Now let’s assume that 10 years from now you have a family and two children

    Now let’s assume that 10 years from now you have a family and two children. You have a good job and are earning $30,000 a year. Your company has a $25,000 group life insurance policy for all employees. Most experts say you need to have 7 times your salary in life insurance. How much more life insurance do you need?

  • 4If Naomi decides that she will invest $3,000 per year in a 6% annuity for the first ten years, $6,000 for the next ten years, and $9,000 for the next ten years, how much will she accumulate

    If Naomi decides that she will invest $3,000 per year in a 6% annuity for the first ten years, $6,000 for the next ten years, and $9,000 for the next ten years, how much will she accumulate? Treat each ten year period as a separate annuity. After ten years of an annuity, then it will continue to grow at compound interest for the remaining years of the 30 years.

  • 5A study is run to estimate the mean total cholesterol level in children 2 to 6 years of age

    A study is run to estimate the mean total cholesterol level in children 2 to 6 years of age. A sample of 9 participants is selected and their total cholesterol levels are measured as follows: 185 225 240 196 175 180 194 147 223 Generate a 95% confidence interval for the true mean total cholesterol level children. How it solves with 95% formula should be? Gloria

  • 6If Grace's $98,760 home appreciates three percent a year, will she have enough appreciation to try to sell the home for a $15,000 profit in five years

    If Grace's $98,760 home appreciates three percent a year, will she have enough appreciation to try to sell the home for a $15,000 profit in five years?

  • 7In order to purchase a home, a family borrows $55,000 at 14% for 15 years

    In order to purchase a home, a family borrows $55,000 at 14% for 15 years. What is their monthly payment?

  • 8The Patel family recently purchased a home, taking out a mortgage of $235,000 at 8½%for 25 years

    The Patel family recently purchased a home, taking out a mortgage of $235,000 at 8½%for 25 years. Excluding taxes and insurance, what is the monthly PITI payment of their loan?

  • 9The Patel family recently purchased a home, taking out a mortgage of $235,000at 8 1/2% for 25 years

    The Patel family recently purchased a home, taking out a mortgage of $235,000at 8 1/2% for 25 years. Excluding taxes and insurance, what is the monthly PITIpayment of their loan?

  • 10Sue and Tom Wright are assistant professors at the local university

    Sue and Tom Wright are assistant professors at the local university. They each take home about $42,000 per year after taxes. Sue is 37 years of age, and Tom is 35. Their two children, Mike and Karen, are 11 and 9.Were either one to die, they estimate that the remaining family members would need about 75% of the present combined take-home pay to retain their current standard of living while the children are still dependent. This does not include an extra $400/month in child-care expenses that would be required in a single-parent household. They estimate that survivors' benefits would total about $1,200 per month in child support.Both Tom and Sue are knowledgeable investors. In the past, average after-tax returns on their investment portfolio have exceeded the rate of inflation by about 3%.If Sue Wright was to die today, how much would the Wrights need in the family maintenance fund? Use the "needs approach" and explain the reasons behind your calculations.Suppose the Wrights found that both Tom and Sue had a life insurance protection gap of $50,000. Present the steps in sequence how Wrights should proceed to search for protection to close that gap? SHOW ALL WORK FOR EACH ASSIGNMENT AND EXPLAIN EACH STEP CAREFULLY.

  • 11Sue and Tom Wright are assistant professors at the local university

    Sue and Tom Wright are assistant professors at the local university. They each take home about $42,000 per year after taxes. Sue is 37 years of age, and Tom is 35. Their two children, Mike and Karen, are 11 and 9. Were either one to die, they estimate that the remaining family members would need about 75% of the present combined take-home pay to retain their current standard of living while the children are still dependent. This does not include an extra $400/month in child-care expenses that would be required in a single-parent household. They estimate that survivors' benefits would total about $1,200 per month in child support. Both Tom and Sue are knowledgeable investors. In the past, average after-tax returns on their investment portfolio have exceeded the rate of inflation by about 3%. 1. If Sue Wright was to die today, how much would the Wrights need in the family maintenance fund? Use the "needs approach" and explain the reasons behind your calculations. 2. Suppose the Wrights found that both Tom and Sue had a life insurance protection gap of $50,000. Present the steps in sequence how Wrights should proceed to search for protection to close that gap?

  • 12sUE AND tOM wRIGHT ARE ASSISTANT PROFESSORS AT THE LOCAL UNIVERSITY

    sUE AND tOM wRIGHT ARE ASSISTANT PROFESSORS AT THE LOCAL UNIVERSITY. THEY EACH HAVE 40,000 PER YEAR AFTER TAXES. sUE IS 37 AND TOM IS35. THEIR 2 CHILDREN ARE 13,11.WERE EITHER OF THEM TO DIE THEY ESTIMATE THAT THE REMAINING FAMILY MEMBERS WOULD NEED 75% OF PRESENT COMBINED TAKE HOME PAY TO KEEP THEIR CURRENT STANDARD OF LIVING FOR THE CHILDREN TILL THEY COME OF AGE. THIS DOES NOT INCLUDE THE 50. CHILDCARE A MONTH THATS REQUIRD IN A SINGLE APRENT HOUSEHOLD. THEY ESTIMATE THE SURVIVOR BENEFITS WOULD TOTAL ABOUT 1,000. PER MONTH IN CHILD SUPPORT.TOM AND SUE AR EKNOWLEADGABLE INVESTORS. IN THE PAST AVERAGE AFTER TAX RETURNS THEIR INVESTMENT PORTFOLIO HAVE EXCEEDED THE RATE OF ABOUT 3% IF ONE WAS TO DIE TODAY HOW MUCH WOULD THEY NEED IN THE FQAMILY MANITENANCEFUND? USE THE NEEDS APPROACH. IF THEY HAD A GAP OF 50,000. IN LIFE INSURANCE WHAT STEPS DO THEY TAKE TO TO MAKE UP THE GAP.