Amount of Insurance Needed. Marty and Mary havo jobs and contribute to tho househald expensos accorcing to their incorme, Marty contribuses 75 \% of the oxpenses and Mary contributes 25\%. Curreney, their housohold expenses ace $20.000 anrualy. Marty and Mary have theo children. The youngest child is 12 , so they would like to ensure that they could maintain ther curent standayd of imng for at feast the next eight years. They foel that the insurance proceecs could be irfestod at 5\%. In addison to covering the annual expenses, they would the bo nake suro that each of their chidren has $40.000 avalable for college. If Marty wore fo die, Mary would go back lo school part-bme to upgrade her fraining as a nurse. This would cost $30.000. They have a merteage on their horne wht a balance of 570,554 . tew much life insurance should they purchase for Marty? The amount of life insurance they should purchane for Marty is: (Round to se nearest dellar.)