Juanita paid a life insurer $45,000 in exchange for an immediate life annuity.Juanita will receive $500 per month from the insurer,and her life expectancy is 15 years (180 months).If Juanita is alive 20 years later,how much of the $6,000 received during the year is taxable?

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The Answer of Juanita paid a life insurer $45,000 in exchange for an immediate life annuity.Juanita will receive $500 per month from the insurer,and her life expectancy is 15 years (180 months).If Juanita is alive 20 years later,how much of the $6,000 received during the year is taxable?

Juanita Paid a Life Insurer $45,000 in Exchange for an Immediate