Question about Bagatrix Algebra Solved! 2005 (105101) for PC

Your friend John asks you for advice concerning life insurance. John is 32 years old and graduated from law school last year. he currently earns \$48,000 per year as a first year attorney. John is married and has two children, Billy, age 10, and Sarah, age 4. John's wife, Mary, is a professor who currently earns \$58,000 per year. Mary is 34 years old. John and Mary pay \$1,700 per month for their home mortgage, which will be paid off in 20 years. The interest rate on their mortgage is 4.5%. (Their current equity in the home is \$75,000.) The couple owns two cars, both 8 years old, and personal property (such as clothes, electronics, furniture, etc.) values at \$45,000. Their investments have been used up paying for John's law school education, so they currently have only \$1,000 in savings and checking accounts, and \$2,000 in a mutual fund. John has no life insurance. Mary has \$100,000 of life insurance provided by her employer. mary's pension plus social security are expected to total \$45,000 per year, beginning when she is 67 years old. If John should die, Mary would receive approximately \$10,000 per year from social security until Sarah reaches age 18. John and Mary spend most of their current income, although they do try to save about \$50 per month. Their investments earn approximately 5% per year. In addition to their home mortgage, John has a student loan of \$15,000 that he must start making payments on in 6 months. he plans to pau back the loan in 5 years and the loan's interst rate is 6% per year. Given that Mary enjoys a flexible work schedule, and because Mary's mother lives close by and watches the kids two days per week, the currently are not paying any child care expenses.

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Posted on Jan 02, 2017

SOURCE: ratio propotion

245

Posted on Mar 12, 2008

SOURCE: english

Let x = the investment return at 8%

Then x + 350 = the investment return at 9%

The investment at 8% + the investment at 9% = \$2350 or x + x + 350 = 2350

Solving for x gives x=1000 Return at 8% was \$1000 Return at 9% was %1350

Investment at 8% is formulated as follows. Y = (Initial investment) (.08) = \$1000
.08Y = \$1000 Y=\$12,500 Using the same process for the 9% investment yields an initial investment of \$15,000

Initial Investment at 8% = \$12,500

Initial Investment at 9% = =\$15,000

Hope this helps Good Luck Loringh

Posted on Oct 19, 2008

SOURCE: ratio and propotion

15 men earns 525
1 man raens 525/15
equals to 35

7 women earns 525
1 women earns 75

so 7 men and 13 women earns 7 *35+13*75=245+975=1220

Posted on Apr 14, 2009

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