EBK FOCUS ON PERSONAL FINANCE
6th Edition
ISBN: 9781260140965
Author: Kapoor
Publisher: MCGRAW HILL BOOK COMPANY
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Question
Chapter 10, Problem 1P
Summary Introduction
To determine: The amount of insurance person X should carry if he earns $40,000 of gross annual income.
Expert Solution & Answer
Explanation of Solution
Compute the amount of insurance using easy method:
Hence, the amount of insurance person X should carry when he earns $40,000 of gross annual income is $196,000.
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