All of the following statements concerning annuities are correct EXCEPT? a. The pure life annuity is ideal for the person who needs maximum income spread out over a lifetime and has several living dependents to whom he or she wishes to leave assets.
b. A life annuity with guaranteed minimum payments ensures that the annuitant either receives a minimum number of payments, or will have lifetime income; whichever is greater.
c. In an installment refund annuity, the insurer promises to continue periodic payments after the annuitant has died until the sum of all annuity rent payments equals the purchase price of the annuity.
d. A joint and survivor annuity is an annuity based on the lives of two or more annuitants, usually husband and wife.

Your father offers you a choice of $120,000 in 11 years or $48,500 today. use appendix b as an approximate answer, but calculate your final answer using the formula and financial calculator methods. a-1. if money is discounted at 11 percent, what is the present value of the $120,000?

Analyzing and computing accrued warranty liability and expense waymire company sells a motor that carries a 60-day unconditional warranty against product failure. from prior years' experience, waymire estimates that 2% of units sold each period will require repair at an average cost of $100 per unit. during the current period, waymire sold 69,000 units and repaired 1,000 units. (a) how much warranty expense must waymire report in its current period income statement? (b) what warranty liability related to current period sales will waymire report on its current period-end balance sheet? (hint: remember that some units were repaired in the current period.) (c) what analysis issues must we consider with respect to reported warranty liabilities?

What tax is paid by the most people in the united states