Life Insurance Assignment | Homework For You

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May 28th, 2020

Question 33 (2 points) Adriana wants to provide income for her parents for 10 years should she die. Adriana carns $80,000 and feels that her parents could live on 60% of her current income. If the insurance funds could be invested at 6%, how much life insurance does Adriana need? Show all work for credit

Question 35 (4 points) Suppose an individual has $62,500 in annual income and considering a home that they intend to finance with a $175,000 mortgage at 5% APR 30-year fixed rate loan, the real estate taxes and insurance are $2.500 per year, auto payments are $300/month, and student loans payments are $350/month (1) Calculate the two qualification ratios (2) Would this individual qualify for this loan using a standard 28/36 ratio criteria? Show all work for credit. Get Finance homework help today

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