Use of Financial Calculator TI BA II Plus Required

Use of Financial Calculator TI BA II Plus required. You and your spouse have a joint income of $110 000 and have estimated that over the next 20 years you will need 60 percent of total income to manage debt, pay off the mortgage, and pay for children's post-secondary education. How much of a life insurance policy should you consider? (Investment returns are 6 percent.)

A) $587 000
B) $1 320 000
C) $843 000
D) $757 000