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Question 1 of 2
1. Question
Ellen purchased a straight life annuity for $100,000 and died after receiving five periodic income payments of $1,500 each. How much can her beneficiary expect to receive under the annuity?
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Question 2 of 2
2. Question
Hank annuitized his $80,000 deferred annuity cash value and is receiving $10,000 annual periodic payments under a life annuity with a 10-year period certain. If he dies after receiving six periodic payments, what, if anything, will be payable to his beneficiary?
