Exam DISC-IA Practice Question 203
Study guide: Exam DISC-IA
A buyer pays a single premium of $50,000 into a fixed deferred annuity. The insurer credits an initial rate of 3.5% for the first two years, and the contract guarantees a minimum rate of 1.5%. For the third year the insurer declares a renewal rate of 1.0%. What is the account value at the end of year 3, before any charges?
- A) $52,283.92
- B) $54,096.86
- C) $54,364.67
- D) $55,435.89
Answer this question and see the worked solution