Use the formula Family Debt + (number of children x total cost of college) + (10 x annual income) =
amount of insurance
Xavier is considering buying life insurance. Xavier has three children and would like them to
attend State University for four years, where the annual tuition is $7,500 a year. Jonathon's
current total family debt is $250,000 and he has an annual income of $58,000 a year.
How much insurance should Jonathon purchase?
O $100,000
O $250,000
O $500,000
O $1,000,000