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:

Disaffirm

To legally reject or void a previously agreed upon contract or agreement, especially by minors.

Tort

A civil wrong that causes harm or loss, leading to legal liability for the person who commits the tortious act.

Disaffirmed

The act of denying, rejecting, or nullifying an assertion or agreement, especially in legal contexts.

Intoxication

A state of being influenced or impaired by substances such as alcohol or drugs, affecting cognitive and physical functions.