Larry purchased an annuity from N insurance company that promises to pay him $2,000 per month for the rest of his life. Larry paid $210,240 for the annuity. Larry is in good health and is 72 years old. Larry received the first annuity payment of $2,000 this month. How much of the first payment should Larry include in gross income?

Q: Find the principal if the interest is 18,000 with a rate of 9% at term of 4 years.

A: Given:          Rate of interest (r) = 9 %          Simple interest (SI) = 18,000          Time…

Q: A credit card offers no interest no payments for 12 months. You make a purchase of $3500. You make…

A: purchase made A= $3500 monthly payments m= $300 Amount made during the first year (11 payments)…

Q: Jamie plan to make payments of $9000 into a account on the last day of this and every year until his…

A: Consider the given information.

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A:

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A: We can say it true or false with reason as below.

Q: If you pay your friend 15$ each month for 20 months to repay a loan, what is the total cost of the…

A: Explanation of the answer is as follows

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A:

Q: the cost of a loan repayment is $4950 a month.what is the total cost for 12 months

A: given that the cost of loan repayment is $4950 a month. there are 12 months in a year.

Q: Nehemiah has $750 to deposit into 2 different savings accounts. Nehemiah will deposit $400 into…

A:

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A: Consider the given information.  The basic price of the car is $25200.    If you are taking a car on…

Q: Suppose you want to buy a new car that costs ​$32, 900. You have no cash only your old​ car, which…

A: A new car costs $32, 900. You have no cash only your old​ car, which is worth $3000 as a​ trade-in.…

Q: You promise your niece that you will give her $2 on her first birthday and double that amount every…

A:

Q: If you purchase a $600 item and pay for it with monthly installments for 2 years, the monthly…

A:

Q: a car costs $12500 and youre offered a loan that requires $800 down and a monthly payment of 228.29…

A: Monthly payments of 228.29 for 66 months contribute to 228.29*66 = 15067.14   And 800 down payment.…

Q: You took out a loan of $8,000 in 2015 at an interest of 6% simple interest. What is the total amount…

A: We have to solve the given question.

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A:

Q: You got an awesome job at Starbucks! You will work there FOREVER! You are promised $900 the first…

A:

Q: Alyssa puts $4000 into a saving plan for 10 years at 7.8% annual simple interest. Four years into…

A:

Q: Suppose your have no balance (debt) on your credit card.  If you spend $150 in a month and paid…

A:

Q: o create a college fund for your child. Suppose you find a fund that offers an APR of 6%. How much…

A: We are given: APR=6%=0.06A=Amount after time t=$89000n=Number of months in a year=12Y=Number of…

Q: A loan for a new tractor is to be simple interest. The rate is 7.2% for 6 years on $43,400. How much…

A:

Q: Jessica deposits $2435 at the beginning of each semiannual period for 8 years in an account paying…

A: