10. Craig owns an index annuity that has a 90 percent participation rate, a 14 percent cap, and a zero percent floor. The contract is backed by a 2 percent minimum guaranteed rate. If the index return at the end of the crediting period is 10 percent, how much interest will be credited to Craig's contract for that term? (Search Chapter 2)

• a. 14 percent
• b. 10 percent
• c. 9 percent
• d. 2 percent