Use of Financial Calculator TI BA II Plus required. Your spouse earns $40 000 and you estimate that $25 000 of it will be required to meet future family expenses. If investment returns are 8 percent, what will the face amount of the life insurance coverage be to cover a period of 15 years' income?
A) $214 000
B) $218 000
C) $375 000
D) $196 500
Correct Answer:
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