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Tim and Tammy are updating their financial plan and are concerned that they might not have enough life insurance coverage for their family, which includes

Tim and Tammy are updating their financial plan and are concerned that they might not have enough life insurance coverage for their family, which includes two children, ages 4 and 10. They have determined that their annual income is $70,000 and their net worth is now $150,000.

What is the amount of life insurance they should carry using the easy method?

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