Your mother, at the age of 35, purchased a 20-Year Endowment insurance policy with a face value of $65,342. The permanent insurance amount for a 20-Year Endowment insurance policy for a healthy 40-year-old female is $37.10. Your mother decided to terminate the policy at the age of 50. Use the following table to determine the cash value of the policy upon cancellation. A 5-column table with 4 rows titled 20-year endowment options. Column 1 is labeled End of year with entries 7, 10, 15, 20. Column 2 is labeled option 1 cash value (dollars) with entries 226, 364, 687, 1000. Column 3 is labeled Option 2 Reduced paid-up insurance (dollars) with entries 421, 562, 834, 1000. Column 4 is labeled option 3 extended term years with entries 26, 31, 37, life. Column 5 is labeled option 3 extended term days with entries 10, 182, 50, life. a. $14,767.29 c. $44,889.95 b. $23,784.49 d. $54,495.23 Please select the best answer from the choices provided A B C D
