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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Given values Annual Income 75000 Marginal tax rate 2... View the full answer