4. Lila invested $10,000 in one of Long Life Insurance Company's annuity contracts. When issued, the contract was paying a 4 percent rate of return. Two years later, Long Life increased this rate to 6 percent. Underlying Lila's contract is a 2 percent rate of return, guaranteed for the life of the contract. What kind of annuity does Lila own?
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O a. a fixed immediate annuity
O b. a variable immediate annuity
O c. a fixed deferred annuity
O d. a variable deferred annuity