The student applies mathematical process standards to demonstrate an understanding of a fixed pension, a variable pension, social security, and an annuity. The student is expected to identify an annuity and calculate and display graphically the future value of an annuity.
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Q 1/3
Score 0
What is an annuity?
300
A retirement account where you pay as you want and the money grows to be paid back to you later.
An insurance product where you pay a premium to guarantee a payout for a specific period of time later.
A federally funded program where your taxes are placed into a trust and then disbursed to those who qualify.
Q 2/3
Score 0
How is an annuity similar to an IRA or a direct contribution pension?
300
You choose not only when to pay in to all three, but also how much, giving you a lot of flexibility.
All three are offered only by employers and can only be accessed upon retirement.
You pay money regularly into all of three. That money then grows in value to pay back to you once you reach retirement age.
3 questions
Q.
What is an annuity?
1
300 sec
130.180.F.12
Q.
How is an annuity similar to an IRA or a direct contribution pension?
2
300 sec
130.180.F.12
Q.
Raj's aunt set up an annuity so that after he graduated high school he would receive $300 per month for five years. The annuity has an annual interest rate of 4.75%. Calculate the present value of the annuity.
