# An annuity purchased for $175,000 pays $4000 at the end of every quarter. How long will the

## Question:

Annuity

An annuity is a series of equal payment made at equal intervals during a period of time. In other words annuity is a contract between insurer and insurance company in which insurer make a lump-sum payment or a series of payment and, in return,...

Fantastic news! We've Found the answer you've been seeking!

## Step by Step Answer:

**Related Book For**