Stephen plans to retire in twenty years at age sixty seven, at which time he will be in the 24 percent marginal income tax bracket. He is considering the purchase of a $200,000 face value whole life policy. The annual premium is $4,000. Alternatively, he is thinking that he could buy a twenty-year $200,000 face value term policy for $500 per year. a.If he implements a buy term and uses the invest the difference strategy, and can earn 8 percent annually in a Roth IRA (assume he saves annually for twenty years), how much will be in his account when the term policy expires? b.If Stephen were to die at age sixty eight (one year after the term policy expires and he has stopped saving), which strategy (buy the cash value policy or buy the term policy and invest the difference) is the better choice if he continues to save in a Roth IRA? c.If instead Stephen were to purchase a twenty five-year term policy for $500 per year in premiums, and he were to die at age seventy three (one year after the term policy expires and he has stopped saving), which strategy (buy the cash value policy or buy the term policy and invest the difference) is the better choice if he continues to save in a Roth IRA? d. Would your answers change if Stephen used a traditional IRA? Stephen was recently diagnosed with cancer. He underwent treatment and was found to be healthy and cancer free. However, Stephen worries that in the future he might have a reoccurrence, which could affect his chances of obtaining life