Kyoko is a 40-year-old female whose husband recently stopped working to attend law school. They expect that he will begin eaming money as a lawyer within five years, but until then, Kyoko will be the provider for their two chidren, Given her current financial situntion, the is interested in a terme insurance policy that will last 5 years. Kyoko goes to an insurance broker to purchase a policy and is shown the following two rate tables to help her choose between annual renewable and level premium term life insurance Yearly Rates on Term Life Insurance Policies Annual Renewable Term Life Rates Age 25 Age 40 $119 $139 Policy Year Age 60 $252 1 $562 5 $147 $176 $219 $507 15 20 $1,054 $897 $6,205 $8,287 $259 $625 $2,135 $3,777 $1,313 $2,989 $2,100 $11,987 $22,346 Total Cost 5 Years: Total Cost 15 Years Total Cost 20 Years: Level Premium Term Life Rates Age 5 Year 15 Year 20 Year 25 $B4 35 $84 $102 $101 $119 $136 $95 $95 $113 $195 40 $102 50 $167 60 $245 $295 $394 per yea Given her age and desired policy term, she can purchase an annual renewable term ife policy and pay $ in the first year and a total of $ over the course of the policy. Alternatively, she can purchase a level premium term ife policy and pay a premium of $ for a total of $ over the course of the policy. term life insurance This example is representative of why, in general, people today purchase