Business, 12.08.2020 20:01, def88

"A customer contributed $20,000 to a variable annuity contract. The account value has grown over the years and the NAV is now $35,000. The customer is now age 60, and takes a lump-sum distribution of $20,000 to pay for expenses. Which statement is TRUE?"

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"A customer contributed $20,000 to a variable annuity contract. The account value has grown over the...