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Assume that they are 45 years old and plan on retiring at age 70. Case Three Frank is a consultant who earns $72,000 annually. His

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Assume that they are 45 years old and plan on retiring at age 70.

Case Three Frank is a consultant who earns $72,000 annually. His spouse, Julie is a homemaker, and they have one child, Betty. Frank is covered by $200,000 life insurance policy. The couple assumes an average annual inflation rate of 3%. How would you design a financial plan for them regarding 3

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