Julia,age 57,purchases an Annuity for $33,600

question 22

Multiple Choice

Julia,age 57,purchases an annuity for $33,600.Julia will receive $400 per month for the rest of her life.The expected return multiple is 20.0.At age 88,the amount that Julia may exclude from income is

• A)$0.
• B)$1,680.
• C)$3,120.
• D)$4,800.

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Definitions:

Lunar Months

A measure of time approximately equal to the natural cycle of the moon's phases, about 29.5 days.

Last Menstrual Period

The date of the first day of the most recent menstrual cycle, used as a standard point of reference in obstetrics to estimate pregnancy dates.

Pregnancy Length

The duration of pregnancy, typically measured from the first day of the last menstrual period to birth, approximately 40 weeks.

Fetal Heart Tones

The sounds or heart rate of a fetus as heard through devices like a Doppler during pregnancy check-ups, important for assessing fetal well-being.