two years ago, 62-year-old Felicity purchased an annuity that credited an interest rate of 6.5 percent to the

UUUUUUUUUUUUUUUUl liial poll! (Search Chapter 2) a. $48,000 ob. $50,000 c. $52,000 od. $55,000 12. Two years ago, 62-year-old Felicity purchased an annuity that credited an interest rate of 6.5 percent to the contract's values. Today, Felicity received a notice from the issuing insurer that the interest rate that will be paid on the contract for the next 12 months will be 5.5 percent. Underlying the contract for as long as it is held is a minimum guaranteed rate of 3 percent. What kind of annuity does Felicity own? (Search Chapter 2) a. immediate fixed annuity b. traditional fixed deferred annuity c. deferred variable annuity od. indexed deferred annuity 13. Lila invested $10,000 in one of Long Life Insurance Company's annuity contracts. When issued, the contract was paying a 5 percent rate of return. Two years later, Long Life increased this rate to 7 percent. Underlying Lila's contract is a 3 percent rate of return, quaranteed for the life of the contract