A single life annuity pays you a set monthly payment for the rest of your life...
A single life annuity pays you a set monthly payment for the rest of your life even if you live to a very old age.
| True | |
| False |
Homework Answers
Answer:
True.
A single life annuity is an annuity that provides payments to one person, that means the payments comes to an end when the pensioner (annuitant) dies. In single life annuity the beneficiaries of pensioner will not get any payment.
A single life annuity pays the pensioner a set monthly payment for the rest of his life even if he lives to a very old age.
Add Answer to:
A single life annuity pays you a set monthly payment for the
rest of your life...
A single life annuity pays you a set monthly payment for the rest of your life...
A single life annuity pays you a set monthly payment for the rest of your life even if you live to a very old age. True False
Gramps purchased a joint survivor annuity that pays $1,350 monthly over his remaining life and that...
Gramps purchased a joint survivor annuity that pays $1,350 monthly over his remaining life and that of his wife, Gram. Gramps is 70 years old and Gram is 65 years old. Gramps paid $299,376 for the contract. How much income will Gramps recognize on the first payment?
Josh pays $120,000 for a single-life annuity that pays him $11,000 a year for life. Treasury...
Josh pays $120,000 for a single-life annuity that pays him $11,000 a year for life. Treasury Department tables estimate his expected remaining life at 15 years. a. How much of each $11,000 payment must Charles report as gross income? b. If Charles dies after receiving annuity payments totaling $77,000 over seven years, what happens to the unrecovered cost? Please show all work. Will rate!
Gramps purchased a joint survivor annuity that pays $1,150 monthly over his remaining life and that of his wife, Gram....
Gramps purchased a joint survivor annuity that pays $1,150 monthly over his remaining life and that of his wife, Gram. Gramps is 70 years old and Gram is 65 years old. Gramps paid $191,268 for the contract. How much income will Gramps recognize on the first payment? Income recognized
Determine the tax-free amount of the monthly payment in each of the following instances. Use the...
Determine the tax-free amount of the monthly payment in each of the following instances. Use the life expectancy tables. Person A is age 57 and purchased an annuity for $82,000. The annuity pays $600 per month for life. Person B is 73 and purchased an annuity for $80,000. The annuity pays $950 per month for life. Person C is 68 and purchased an annuity for $40,000 that pays a monthly payment of $550 for 10 years.
What would be the monthly payment of an ordinary annuity if you want to collect $5,250...
What would be the monthly payment of an ordinary annuity if you want to collect $5,250 in 3 years, given that your account pays an annual rate of interest of 9%, compounded monthly?
Question 10 (0.5 points) You will receive the largest monthly payment under an annuity contract when...
Question 10 (0.5 points) You will receive the largest monthly payment under an annuity contract when the annuity disbursement option is the - life annuity with no refund. 2) life annuity for a certain period. 3) refund annuits 4) annuity certain o temporary life annuity Question 15 (0.5 points) Your Social Security contribution depends on your current income and retirement income goal ( ( 1) True 2) False Question 20 (0.5 points) Henry has a defined benefit plan that promises...
Maybepay Life Insurance Co. is selling a perpetual annuity contract that pays $2,400 monthly. The contract...
Maybepay Life Insurance Co. is selling a perpetual annuity contract that pays $2,400 monthly. The contract currently sells for $332,000. What is the monthly return on this investment vehicle? What is the APR? What is the effective annual return?
Professor’s Annuity Corp. offers a lifetime annuity to retiring professors. For a payment of $90,000 at...
Professor’s Annuity Corp. offers a lifetime annuity to retiring professors. For a payment of $90,000 at age 65, the firm will pay the retiring professor $850 a month until death. a. If the professor’s remaining life expectancy is 15 years, what is the monthly interest rate on this annuity? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) b. What is the effective annual interest rate? (Use the monthly rate computed in part...
Maybepay Life Insurance Co. is selling a perpetual annuity contract that pays $2,750 monthly. The contract...
Maybepay Life Insurance Co. is selling a perpetual annuity contract that pays $2,750 monthly. The contract currently sells for $400,000. a. What is the monthly return on this investment vehicle? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) b. What is the APR? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) c. What is the effective annual return?...
Gramps purchased a joint survivor annuity that pays $1,150 monthly over his remaining life and that of his wife, Gram. Gramps is 70 years old and Gram is 65 years old. Gramps paid $191,268 for the contract. How much income will Gramps recognize on the first payment? Income recognized
Question 10 (0.5 points) You will receive the largest monthly payment under an annuity contract when the annuity disbursement option is the - life annuity with no refund. 2) life annuity for a certain period. 3) refund annuits 4) annuity certain o temporary life annuity Question 15 (0.5 points) Your Social Security contribution depends on your current income and retirement income goal ( ( 1) True 2) False Question 20 (0.5 points) Henry has a defined benefit plan that promises...
Maybepay Life Insurance Co. is selling a perpetual annuity contract that pays $2,750 monthly. The contract currently sells for $400,000. a. What is the monthly return on this investment vehicle? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) b. What is the APR? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) c. What is the effective annual return?...
Most questions answered within 3 hours.
-
How would you train your employees to avoid risks of using
mobile devices?
asked 16 minutes ago -
Assume Kw = 1.01 ✕ 10−14
For pure water, we can calculate [H3O+ ] = [OH...
asked 1 hour ago -
Suppose that on a temperature scale X, water boils at 203.0°X
and freezes at -105.7°X. What...
asked 2 hours ago -
BaS crystallizes in a cubic unit cell with S2- ions on each
corner and each face....
asked 2 hours ago -
A. 0≤P(Oi)≤10≤P(Oi)≤1 for each i
B. P(Oi)≤0P(Oi)≤0
C. P(Oi)=1+P(OCi)P(Oi)=1+P(OiC)
D. P(Oi)≥1P(Oi)≥1
If an experiment consists of...
asked 4 hours ago -
A battery has an emf of 9.20V and an internal resistance of 1.20
ohm. a)What resistance...
asked 4 hours ago -
The area of an elastic circular loop decreases at a constant
rate, dA/dt = −6.60×10−3 m2/s...
asked 5 hours ago -
The denaturation of proteins can be described by the
equilibrium
F⇌U
where F and U represent...
asked 6 hours ago -
Please answer what the maximum and minimum force is, and the
angle on the ion is...
asked 6 hours ago -
implement a program that reads a number of rows and a symbol.
The program will draw...
asked 6 hours ago -
Assume that when adults with smartphones are randomly selected,
45% use them in meetings or classes....
asked 6 hours ago -
Determine the number of formula units of
Na2SO4 and moles of oxygen contained in 8.11
moles...
asked 7 hours ago