In 2014, when Sherry was 56 years old with an additional life expectancy of 20 years, she purchased a single life annuity for $200,000 that was to pay her $15,000 per year for life starting in 2015. Sherry just received her $15,000 payment for 2020. How much of the $15,000 must Sherry include in income?

Answer rating: 100% (QA)

To determine how much of the 15000 Sherry must include in her income we need to calculate the t... View the full answer