Amount of Insurance Needed. Marty and Mary have jobs and contribute to the household expenses according to their income Marty contributes 75% of the expenses and Mary contributes 25% Currently, their household expenses are $29.100 annually. Marty and Mary have three children. The youngest child is 12, so they would like to ensure that they could maintain their current standard of living for at least the next eight years. They feel that the insurance proceeds could be invested at 7%. In addition to covering the annual expenses, they would like to make sure that each of their children has $24.709 available for collegeMarty were to die, Mary would go back to school part time to upgrade her training as a nurse. This would cost $17,594 They have a mortgage on their home with a balance of 553,620 How much life insurance should they purchase for Mary The amount of life insurance they should purchase for Mary is $(Round to the nearest dollar) 0