Question: QUESTION 4 Using the Human Life Value method, how much life insurance should you purchase if you take into account 3% annual inflation over the

QUESTION 4

Using the "Human Life Value" method, how much life insurance should you purchase if you take into account 3% annual inflation over the next 45 years until retirement, an annual income of $61,500 received at the start of each years, and a time value of money of 7%? (Assume 100% income replacement and a marginal tax rate of 15%)

	a.	$1,236,658
	b.	$1,272,027
	c.	$1,588,959.94
	d.	$1,545,823

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