Your variable annuity charges administrative fees at an annual rate of 0.15 percent of account value Your average account value during the year is $200,000. What is the administrative fee for the year? Anual administrative fee O E e here to search Sophia purchased a variable annuity contract with a purchase payment of $25.000 Surrender charges begin with 7 percent in the first year and decline by 1 percent each year. In addition, Sophia can withdraw 10 percent of her contract value each year without paying surrender charges in the first year, Sophia needed to withdrow $6.000. Assume that the contract value had not increased or decreased because of investment performance. What was the surrender charge Sophia had to pay? Sumonth Next > ere to search i 0