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Ralph wants to have enough life insurance so that if he died while his kids were still dependent on him, his family would have the
Ralph wants to have enough life insurance so that if he died while his kids were still dependent on him, his family would have the funds to provide a $53,000 annual income for 32 years. Assume the funds would get a 1.6% annual real rate of return. How much life insurance does he need to have to provide this security to his family? Input the number to the nearest dollar (no $ signs or + or -).
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