George purchased a life annuity for $5,000 that will provide him $125 monthly payments for as long as he lives. Based on IRS tables, George's life expectancy is 100 months. How much of the first $125 payment will George include in his gross income?

Marcus receives an inheritance of $11,000. He decides to invest this money in a 15-year certificate of deposit (CD) that pays 6.0% interest compounded monthly. How much money will Marcus receive when he redeems the CD at the end of the 15 years? Marcus will receive (Round to the nearest cent.)

Damian is age 77. He paid $600,000 for a single life annuity contract that will pay him $72,000 per year for life. The tax-free amount of the first $72,000 payment is     $18,429.     $53,571.     $28,302.     $49,587

7. Larry purchased an annuity from an insurance company that promises to pay him $220 per month for the rest of his life. Larry purchased the annuity and paid $37,000 for the policy. He is 62 and in good health, and received his first monthly payment on August 1st, 2017. How much must Larry include in his 2017 income?

Carla Lopez deposits $5, 200 a year into her retirement account. If these funds have an average eaning of 6 percent over the 40 years until her retirement, what will be the value of her retirement account?

Chase starts an IRA (Individual Retirement Account) at the age of 30 to save for retirement. He deposits $400 each month. Upon retirement at the age of 65 , his retirement savings is $558,638.87 . Determine the amount of money Chase deposited over the length of the investment and how much he made in interest upon retirement.

Greg Grove pays $50,000 interest in 2020 on his mortgage on his principal residence. It has an interest rate of 4 percent and balance of $1,250,000 during the year. He took out the mortgage in 2019. How much of this interest is deductible on Greg’s tax return for 2020? show your work

In 18​ years, Maggie Beechwood is to receive ​$100,000 under the terms of a trust established by her grandparents. Assuming an interest rate of 5.7​%, compounded​ continuously, what is the present value of Maggie​'s ​legacy?   The present value of the legacy is ​$  ​(Round to the nearest cent as​ needed.)

Kevin deposits a fixed quarterly amount into an annuity account for his child's college fund. He wishes to accumulate a future value of $90,000$⁢90,000 in 1616 years. Assuming an APR of 3.7%3.7% compounded quarterly, how much of the $90,000$⁢90,000 will Kevin ultimately deposit in the account, and how much is interest earned? Round your answers to the nearest cent, if necessary.

Ryan inherited an annuity worth $3,280.16 from his uncle.  The annuity will pay him 5 equal payments of $800 at the end of each year. The annuity fund is offering a return rate of