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Suppose you earn $50,000 annually. In the event of your death, you wish to provide for your family for the next 20 year. The variable

Suppose you earn $50,000 annually. In the event of your death, you wish to provide for your family for the next 20 year. The variable are $80,000 in Superannuation; current Life Insurance Policy of $150,000, an invest rate of return is 7% and inflation is 3%, using the earnings multiple approach, how much life insurance should be purchased? Please provide the formula and table if possible

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