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You have 25 years until retirement and your current annual income is $75,000. Using a...

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Accounting

You have 25 years until retirement and your current annual income is $75,000. Using a marginal tax rate of 22% and an inflation rate of 3.5%, how much life insurance will you need to purchase using the human life value approach? Your time value of money of 8.5%. Assume you want to replace 80% of your current income considering taxes and inflation.

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