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Could you please help me to solve those?

1.James, 35 is a single parent and has a 1-year old son. He earns $45000 annually as a marketing analyst. His employer provid

The question is to calculate the amount of life insurance that he should purchase.
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Answer #1

The amount of Life insurance James should purchase is $7,000 which is calculated as follows:

His total financial needs and objectives are $124,000 (10,000 +2,000 +60,000+2,000+50,000)

His total financial Assets are $117,000 (25,000 + 2,000 + 90,000)

= $124,000 - $117,000 = $7,000

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