### Calculate richard human life

##### Reference no: EM131524101

1. Richard, age 45, is married with two children in high school. He estimates that his average annual earning over the next 20 years will be 60,000. He estimates that one-third of his average annual earnings will be used to pay taxes, insurance premiums, and the costs of self- maintenance. The remainder will be used to support his family. Richard wants to calculate his human life value and believes a 6 percent discount rate is appropriate. The present value of \$1 payable for 20 years at a discount rate of 6 percent is \$11.47. Calculate Richard's human life.

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