Which of the following describes a single premium variable annuity? A]Karen retires from her job and buys a variable annuity the next day which will beginto pay her monthly income starting next month. B}Bob's father buys a variable annuityfor him at age 15.The semi -annual premiumare $500. C}Jean inherits $20,000 and purchases a variable annuity with it.Itbwill begin to pay her regualr income in 15 years. D} Tom puts $100 a month into a variable annuity, which will pay him income at age 60.
Which of the following describes a single premium variable annuity? A]Karen retires from her job and buys a variable annuity the next day which will beginto pay her monthly income starting next month. B}Bob's father buys a variable annuityfor him at age 15.The semi -annual premiumare $500. C}Jean inherits $20,000 and purchases a variable annuity with it.Itbwill begin to pay her regualr income in 15 years. D} Tom puts $100 a month into a variable annuity, which will pay him income at age 60.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Which of the following describes a single premium variable
A]Karen retires from her job and buys a variable annuity the next day which will beginto pay her monthly income starting next month.
B}Bob's father buys a variable annuityfor him at age 15.The semi -annual premiumare $500. C}Jean inherits $20,000 and purchases a variable annuity with it.Itbwill begin to pay her regualr income in 15 years.
D} Tom puts $100 a month into a variable annuity, which will pay him income at age 60.
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