Question: 5 Your answer is incorrect. You have been quoted a premium of $1650 per year for $1090000 in levelpremium term life insurance for 20 years

5 Your answer is incorrect. You have been quoted a premium of $1650 per year for $1090000 in levelpremium term life insurance for 20 years and a premium of $5600 per year for a permanent life insurance policy with an equivalent face value. If the insurer's rate of return is 5% APY, at what point will the permanent policy generate enough cash value to pay the premiums? 0 13.7years 18.1years O 14.2years O 17.5 years

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