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14 February, 20:21

T, age 70, withdraws cash from a profit-sharing plan and purchases a straight life annuity. what will this transaction provide?

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  1. 14 February, 20:38
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    Based on the scenario given above, the transaction that will likely be provided to T at the age of seventy is that the income that he will receive won't be likely outlived by the owner. It is because the straight life annuity in which the periodic payment to the annuitant will only be until his or her death.
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