P and J are divorced. The devorce settlement stipulated that J pay $525 a month for their children Sue untile turns 8 in 4 years. How much must J set aside to day to meet the settlement? interest 6% a year.
@ RobertM : i do not how to replay for you. But i just figured it out.Yes, It does make sense. This is the problem of Present value of annuity. The result is J has to set $22,354.71 aside from now to meet the settlement.
just Sue only.i’m sorry, i typed wrong.thank you Robert.
until she turns 18. not 8
Posts Tagged ‘Annuity’
Business math annuity help. thank you so much?
07
Jun
What will happen if …..Annuity to pay IRS?
21
May
Ok, I want to take money from my annuity to pay the IRS . I already called the IRS ,interest and penalties will kill me otherwise. I’d only be able to pay $25.00 per mo. I owe $2,232.00
Would this be considered income for next year? Will I have to pay income tax on it? Even though I”m going to use it to pay what I owe the IRS for the tax year 2008? HELP!
I got a settlement which kicked up my income,the money I set aside to pay the addl taxes.
I had to use to fix my car UGH!!!!
I have an annuity I want to take my money out. Help me..?
17
May
I just won 300,000 dollars through a settlement. Im 19 and I feel like my lawyer pressured me into putting it in an annuity, I really didn’t have time to think about it. So I did what he thought was best for me and my family. So I put it in met life. I just did this in october of 08 and I just received my first 2 payments of 1,565.76 one on Jan 1st and the other on feb 1st. I took some time to think about it and met life is going to pay me 1565 a month for 20 years. and if I don’t die after that 20 years I will still get it for the remainder of my life. But If I do die they get to keep all my interest. Now I want to take it out and put it into my own account. IS it possible to take it out. I know it will cost money but I want it out. I can build my own interest and when I die my family gets to keep it not some company. So is there any way possible i can get it all out. PLEASE help..
I forgot to add I was under the age of 18 when this happened and was on the case for 3 1/2 years. If that helps me too
Annuity Settlement, Audio Course
17
May
Product Description
This lecture is designed for financial professionals and for those of you who are preparing for Health and Life Insurance License Exam. This lecture covers the following topics:
SETTLEMENT OPTIONS;
Life Annuity;
Life with Period Certain Guarantee;
Refund Life Annuity;
Joint and Survivor Life Annuity;
Fixed Period Annuity;
Fixed Amount Annuity;
Interest Income;
SURRENDER CHARGES;
WITHDRAWALS;
Partial Surrender;
Full Surrender;
10% Per Year Withdrawal;
Systematic Withdrawal Option;
Loans;
THE VARIOUS TYPES OF ANNUITIES;
SINGLE PREMIUM ANNUITIES;
FLEXIBLE PREMIUM ANNUITIES;
FIXED ANNUITIES;
EQUITY-INDEXED ANNUITIES;
VARIABLE ANNUITIES;
Assumption of the Investment Risk;
The Variable Accounts;
The Guaranteed Accoun… More >>
Annuity Settlement, Audio Course
i have annuity funded by my former employer and i cannot receive any til age 55. i am 52 – need $$$asap?
17
May
have serious medical problems ( cancer , anorexia, brittle bone disease, bipolar disorder)
employer funded annuity, at 55 i will receive 25,000 +, i am now 52…i absolutelely need cash now. there is a clause, have designated benificiary form which means i can designate these funds to who ever or to which ever financial institution i choose at time of dispursement, on 10-01-09…again,,,i need cash now. please advise immediately . upon rendering the beneficiary form these funds will go to the benefactor designated by me if a settlement can be reached now. again these funds will now be available until 2009. there must be a way to appeal.. is there such a thing as a hardship clause available to me given my medical circumstances ?? documents will be submitted for review to anyone who might be able to assist . Thank You and God Bless
I need help with an Annuity problem. I am completely lost?
14
May
7.Your brother is a serious Batman fanatic. Every Christmas since he was a child he would receive a Batman action figure or some other Batman related memorabilia. A few weeks ago Antiques Roadshow came to your town and you stood in line to have your brother’s prized possessions appraised. You found out that the items were worth $5,000. Your brother would like to two full sleeves and an intricate scene on his back featuring the infamous Arkham Prison and a few scenes with his favorite villains breaking out. The tattoos altogether would cost $35,000. Your dad was incorrectly diagnosed with meningitis and completed a painful course of treatment only to find out he never had the disease. He successfully sued the hospital and received a settlement which paid him $3,000 a month for 30 years. However, because of the treatment your dad died 16 years after the settlement. Since his death, you and your brother have evenly split the annuity checks you have received for 12 years. The annuity was and is priced to yield 5.44%. If the two of you sold the annuity would your brother have enough to pay for the tattoos or would he have to sell some of his precious collection?
She gives us the answer (Annuity = $68,075.52; Brother short $962.24; will have to sell some of collection)
but I have no idea how she got it. I’ve tried the present value formula, I’ve tried the future value forumla, I tried the present value of an ordinary annuity, annuity due, etc etc and I still don’t know what to do. I;ve been trying to do this for a couple of hours now and this is my only option. Please help.
I’m using a TI-83. We can’t use financial calculators on the test.
Annuity Help?
07
May
What amount would I have to put aside if I wanted to offer someone a 15 year Annuity with an Annual Payment of 100,000
If an employee was working for 10 years – there would have to be enough money put aside.
In other terms, Present Value of Payment Stream (Cash Out) = Future Value of Payment Stream
Interest Rate : 5.75%
Sell Your Annuity: When Is It Time to Sell Your Annuity?
07
May
Product Description
What can I do? Where can I get the money I need? I have an annuity, but I don’t know that I can sell it. Is there a good time to sell my annuity? I already have a home improvement loan, but it was used before the roof needed replacing. I don’t know if I can get another loan. I just don’t know where else to get the money. If the insurance company had been able to cover a bigger chunk of the cost of replacing the roof the wind ripped off, but they didn’t. Now if I don’t replace that roof before it rains we will have buckets for the water sitting all over the house. I think there is a whole in the roof just above our bed. We can’t sleep with a bucket in the middle of their bed! Can I sell … More >>
Sell Your Annuity: When Is It Time to Sell Your Annuity?
Annuity Settlement Concept
04
May
Product Description
This audio book on CDs provides an easy way for students to review a list of key terms and concepts. It truly offers the most comprehensive and easy accessible supplement to your independent study for the Insurance Agent license Exam. Topics covered: Settlement Options; Life Annuity; Life With Period Certain Guarantee; Refund Life Annuity; Joint And Survivor Life Annuity; Fixed Period Annuity; Fixed Amount Annuity; Interest Income; Surrender Charges; Withdrawals; Partial Surrender; Full Surrender; 10% Per Year Withdrawal; Systematic Withdrawal Option; Loans; The Various Types Of Annuities……. More >>
Receiving lump sum or annuity?
30
Apr
I will be receiving a settlement and they say I can either receive it in a lump sum or annuity. My thought process is that if I take the lump sum (780,000) I could put it in the bank and just withdraw interest accrued monthy and that would help pay the big bills (house, car, motorcycle) and that lump sum never gets touched versus if I choose the annuity, then the money never gets a chance to accrue interest cuz it would be much smaller amount and go straight to the bills, anyone have thoughts about this or think my idea is good or bad? b the way I’m 39 since people would ask how old I am , thanks
the settlement is an injury settlement which will be non-taxed but they did menton I will be taxed on any income generated from it, however they did mention that if i took the annuity I will not be taxed on any income generated from the annuity, they said thats the incentive of taking the annuity versus the lump sum. i won’t get anymore details till later in the year (dec. or jan.)
Does anyone know about an annuity and being taxed?
20
Apr
My husband was in a car accident when he was 15 and his settlement money was put into an annuity until he reaches the age of 30. (He’s 24 now) I was just wondering…Do we pay taxes on the annuity when he receives it? If so, does anyone know about what percentage rate he will be taxed at?
What is the name of the company that gives loans against annuity settlements?
17
Apr
I’ve seen commercials about it but I don’t remember the name of the company (or companies) that does it.
I get a small monthly annuity check from my deceased husbands company. I have asked for a lump sum settlement?
13
Apr
there was a security breach with my information and I want out. Do I have any chance of settling and how do I go about it. Thanks in advance.
annuity immediate question to find the down payment ?
13
Apr
the cash price of a new automobile is $10,000. the purchaser is willing to finance the car at 18% convertible monthly and to make payments of $250 at the end of each month for four years. Find the down payment which will be necessary.
annuity with structured payments or get house paid off?
31
Mar
My mother recently passed away. My dad has recieved her life insurance and has cashed out her savings accounts. He wants to split this money between me and my brother. He said that mom asked him to pay off my house and to pay my brother’s way through school. He is going to set up an annuity account for my brother that will only allow him to get a set amount every month for the next 7 years. He wants to pay my house off with my half of the money. This is fine with me and what I would probably do with the money anyway. The catch is that when he pays off the house he wants the deed switched over to include his name. The deed is currently in mine and my husbands name. His reasoning for this is that he doesnt want us to be able to turn around and get the house refinanced. I asked if I would be able to get the annuity that my brother is getting and he said that I could however because the interest is lower on the annuity than on my home loan at the end of seven years I would still owe on the house. I dont know what to do. I don’t know what is the safest thing to do and need some advice. We already have about 45,000 built up in equity in the house. And we have no problem making the house payments now. thanks in advance for any advice thank you.