Your insurance company has suggested that you purchase life insurance equivalent to 10 times your annual income. What method for determining the amount of life insurance is being used?

True or false. As far as your final tax due or refund goes, it is advantageous for a baby to be born at 12:01 a.m. on January 1, 2017, rather than two minutes earlier at 11:59 pm on December 31, 2016.

CALCULATOR PROBLEMS (19 problems worth 2 points each) 38 POINTS ALL TOGETHER **REMEMBER TO SUPER CLEAR THE FINANCIAL CALCULATOR BETWEEN EACH PROBLEM**

[The following information applies to questions 90 and 91.]   You have just had an emergency craniotomy. Your health insurance has the following figures: Monthly premium: $250 Annual Deductible: $500 Coinsurance: 70/30 Maximum annual co-payment: $1500   Medical Costs incurred                Craniotomy                      $1,700 Hospital room                 $350 per day for 4 days Physician                            $750 Medicines                          $400

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Automobile Insurance

Which portion of auto insurance most frequently pays for damage to your car when it crashes with another vehicle?

Sylvester is the primary bread-winner for his family of one wife and eleven children. He has a gross monthly income of $2,600. His monthly net income is 80% of his gross monthly income. He does not want credit debt payments to exceed 10% of his net income. What can be Sylvester’s maximum monthly payment on credit debt?

True or false. If your employer does not withhold sufficient taxes from your paycheck, you could pay a penalty to the IRS.

Casey borrows $8,000 to buy a car. The annual interest rate of the car loan is 7.75%. It is a 48-month loan. The bank tells him that his monthly payment (at the end of each month) is $_________. He wants to pay off the loan quicker, so he decides to make a payment of $250 each month (starting at the end of the first month). How long will it take Casey to pay off the loan (in months)?