Who needs to buy insurance the most

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Reference no: EM131169544

Bob and Terri each make $40,000 per year and have $5,000 cash in the bank. Bob has a risk of loss of $2,000 (30%), $3,000 (30%) and $0 (50%). Terri has a risk of loss of $300 (40%), $40,000 (5%) and $0 (55%). Who needs to buy insurance the most? Calculate and explain.

Reference no: EM131169544

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