Your variable annuity charges administrative fees at an annual rate of 0.19 percent of account value. Your average account value during the year is $204,000. What is the administrative fee for the year

The administrative fee for the year is $387.6

Explanation:

Administrative fee is the money charged for administering a group employee benefit plan to cover expenses related to record-keeping and/or other administrative costs

Given that:

Annual rate is 0.19% of account value = 0.0019

Average account value during the year = $204000

Therefore:

Administrative fee = Annual rate × Average account value = 0.0019 × 204000 = $387.6

The administrative fee for the year is $387.6

being born in poverty would limit the people's chances, opportunities and benefits.

this happen because of several things, such as:

- poor people tend to gain less access to good education and nutrition. this mean that their chance to obtain high paying jobs would also be limited.

- poor people tend to socialize with other poor people while the rich tend to socialize with other rich people. this means that simply throguh their social circle, rich people would have more business opportunities compared to the poor people.

- rich people tend to have more capital in their disposal. this would benefit them in business since it is far easier for them to fund their business operation compared to poor people.