A forty year old female has a husband, two children age 3 and 7, and currently no life insurance. She has an annual income of $150,000. She has determined that she needs $1 million of life insurance. She can buy whole life insurance at an annual premium of $10,412. In an effort to minimize the initial insurance cost, she decides to purchase a series of 10 year policies. The premium for the first 10 years is $650 per year. For the second 10 years the premium is $800 per year. And for the 3rd 10 years the premium is $1300 per year. She can afford either set of premiums, and believes she can invest any money saved at an interest rate of 8%. Suppose she chooses the 30 year term insurance and invests the premium difference for 30 years in a market account. Approximately how much will be in her account in 30 years? $1,179,104 $2,317,432 0 $1,574,985 0 $878,927