You are a dual-income, no-kids family. You and your spouse have the following debts: Mortgage = $261,000; Auto loan = $10,000; Credit card balance = $2,150; and other debts = $6,200. Further, you estimate that your funeral will cost $9,000. Your spouse expects to continue to work after your death. Using the DINK method, what should be your need for life insurance?

$151,775

Explanation:

Using DINK method

One half of mortgage, 261000 = 130500

One half of auto loan, 10000 = 5000

One half of credit card loan, 2150 = 1075

Other debt = 6200

Funeral cost = 9000

Thus,

Insurance = 130,500 + 5000 + 1075 + 6200 + 9000

= $151,775

Note that, DINK method involves adding one half of all debts plus funeral expenses. Although, one half of other debts isn't added. It's an insurance meant to keep one's spouse afloat should something happen to the other.

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

answer; commerce clearing house;