Natasha,age 58,purchases an Annuity for $40,000

question 29

Multiple Choice

Natasha,age 58,purchases an annuity for $40,000.Natasha will receive $400 per month for the rest of her life.The expected return multiple is 20.0.At age 65,the amount that Natasha may exclude from income is

• A)$0.
• B)$2,000.
• C)$2,800.
• D)$4,000.

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Definitions:

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The process of formulating general concepts by abstracting common properties of specific instances, thus allowing for broader applications or interpretations.

Businesses

Organizations engaged in commercial, industrial, or professional activities aimed at generating profits.

Building

A structure with a roof and walls, such as a house, school, or factory, used for shelter, work, or storage.

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