Thomas Purchased an Annuity for $20,000 That Will Pay Him

question 16

Multiple Choice

Thomas purchased an annuity for $20,000 that will pay him $500 per month for ten years.What amount should Thomas include in his income each year?

• A)$0
• B)$2,000
• C)$4,000
• D)$6,000

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Definitions:

Ethical Conduct

Behaviors and practices that comply with moral principles and professional standards, often guiding individuals and businesses in acting with integrity and fairness.

Self-Interest

Self-Interest describes actions or decisions motivated by personal gain, often without regard for others.

Moral Result

The outcome or impact of an action or decision judged according to ethical principles and moral values.

Utilitarianism

An ethical theory that promotes actions that maximize happiness and well-being for the majority of a population.