Bart is not married, has an annual income of $60 000, debt of $20 000, net worth of $580 000, and a factor of 8. How much insurance should he buy using the income method?

Name: Bart is not married, has an annual income of $60 000, debt of $20 000, net worth of $580 000, and a factor of 8. How much insurance should he buy using the income method?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The income method suggests buying insurance equal to the annual income multiplied by a factor. Here, $60,000 * 8 = $480,000.

Bart Is Not Married, Has an Annual Income of $60