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If Wilma Goff dies in the near future, she wants her family to receive $32,000 per year at the beginning of each year, maintaining purchasing
If Wilma Goff dies in the near future, she wants her family to receive $32,000 per year at the beginning of each year, maintaining purchasing power for 18 years. Assuming there are no other assets, how much life insurance will she need if inflation averages 5% and the money is invested at an after-tax rate of 8%? Wilma intends for nothing to be left at the end of the 18 years.
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