Susan Purchased an Annuity for $200,000

question 22

True/False

Susan purchased an annuity for $200,000.She is to receive $18,000 each year and her life expectancy is 13 years.If Susan collects under the annuity for 14 years, the entire $18,000 received in the 14th year must be included in her gross income.

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Definitions:

Financial Services

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An insurgency that emerged from the sectarian civil wars that destabilized Syria and post–Saddam Hussein Iraq. Beginning in 2014, ISIS forces attacked towns and cities in Iraq, Syria, and Libya, systematically murdering members of ethnic and religious minorities.