Chris, a 40 -year-old architect, purchases a whole life insurance policy with a $⁢500,000 death benefit. The policy includes a cash value component that grows at a fixed interest rate of 4.75% annually. Chris contributes $⁢15,000 annually to the policy's cash value portion, and the accumulated cash value will continue to grow at the same 4.75% interest rate. What will the cash value portion be after 20 years? Use the formula cap A is equal to the fraction with numerator cap p times open paren open paren 1 plus r over n close paren raised to the n t power minus 1 close paren and denominator open paren r over n close paren