Charlene's husband passed away. She is due insurance of $120,000. The insurance company offered that instead of giving her the money right away that she invest the money with them. They will give her $1,100 every month for ten years. How much of each monthly payment must Charlene report as income?

Answer rating: 100% (QA)

The entire 1100 of each monthly payment is considered income for Charlene and needs t... View the full answer