Determine the tax-free amount of the monthly payment in, Ask an Expert

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Determine the tax-free amount of the monthly payment in each of the following instances.

Person A is age 59 and purchased an annuity for $95,000. The annuity pays $2,000 per month for life. (Round exclusion percentage computation to one decimal place.)

Person B is 63 and purchased an annuity for $93,000. The annuity pays $1,600 per month for life. (Round exclusion percentage computation to one decimal place. Round your final answer to 2 decimal places.)

Person C is 72 and purchased an annuity for $53,000 that pays a monthly payment of $1,200 for 10 years. (Round exclusion percentage computation to one decimal place. Round your final answer to 2 decimal places.)

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Operation Management, Management Studies

Category:- Operation Management
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