2
QuizMultiple Choice
Unit Test — Unit test
Question 2 • CARE_24_25_TX-Mathematical Models with Applications B
DeShawn is 38 years old and is married with 3 children, ages 2, 4, and 6. He makes $45,000 a year and is planning to retire when he turns 60. From the following three options, DeShawn decides to buy the $900,000 20 year term policy. Given DeShawn’s scenario, assess whether DeShawn made a wise decision.
Answer
A
DeShawn would be safer buying whole life policy.B
DeShawn would have more money in the long run if he invested in the 20-year endowment.C
DeShawn’s current policy will cover his family for an adequate period of time at his current salary.D
DeShawn’s current policy has too high of a face value and does not cover his family long enough.