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Karen & Karl Tigerthan each earn $75,000 and have estimated that over the next 20 years they will need 60 percent of total income to

Karen & Karl Tigerthan each earn $75,000 and have estimated that over the next 20 years they will need 60 percent of total income to manage debt, pay off the mortgage, and pay for children's postsecondary education. How much life insurance should they apply for? (Investment returns are 4 percent.)[1 pts] (Show your calculations)assume annual compounding.

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