Eddie the Eagle purchased an IVIC as a deferred annuity contract on July 15, 2011, with a single deposit of $12,000.The money was deposited to a growth equity fund. The fund offered the minimum statutory guarantee at death of the annuitant or maturity of the plan. Due to recent market downturns the fair market value of the plan units is currently only $11,200. How much would the plan beneficiary receive if Eddie were to die in 2017?

options:

	$8,400
	$11,200
	$9,000
	$12,000