Glenn Forbes is evaluating his life insurance needs. His family's total living expenses are $47,650 per year. Joanna, his wife, earns $22,000 per year at her regular job, and an additional $200 per month at a part-time job. If the prevailing interest rate is $7 \frac { 3 } { 4 } \%$ , how much life insurance should Glenn purchase to cover his dependents' income shortfall? (Round to nearest $1000)

Question

Glenn Forbes is evaluating his life insurance needs. His family's total living expenses are $47,650 per year. Joanna, his wife, earns $22,000 per year at her regular job, and an additional $200 per month at a part-time job. If the prevailing interest rate is

7 \frac { 3 } { 4 } \%

, how much life insurance should Glenn purchase to cover his dependents' income shortfall? (Round to nearest $1000)

Quizplus · Accepted Answer

The Answer of Glenn Forbes is evaluating his life insurance needs. His family's total living expenses are $47,650 per year. Joanna, his wife, earns $22,000 per year at her regular job, and an additional $200 per month at a part-time job. If the prevailing interest rate is $$7 \frac { 3 } { 4 } \%$$, how much life insurance should Glenn purchase to cover his dependents' income shortfall? (Round to nearest $1000)

Glenn Forbes Is Evaluating His Life Insurance Needs 734%7 \frac { 3 } { 4 } \%743​%

Glenn Forbes Is Evaluating His Life Insurance Needs $7 \frac { 3 } { 4 } \%$