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What is the approximate amount of life insurance

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Reference no: EM132563367

Petra and Stan have just divorced. They have a son, Marek, who just turned 3. In divorce court, the judge has ordered that Stan is required to pay Petra child support of $2,200 per month until Marek's 18th birthday, and that he must acquire adequate life insurance to satisfy this requirement in the event of his death.

Question 1: Using the capital drawdown method, what is the approximate amount of life insurance that Stan should buy to meet his child support commitment?

Option a) $100,000

Option b) $400,000

Option c) $750,000

Option d) $1,000,000

Reference no: EM132563367

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