Question: 1 6 . An annuity may be defined as Question 1 1 Answer a . a payment at a fixed interest rate paid annually. b

16. An annuity may be defined as
Question 11Answer
a.
a payment at a fixed interest rate paid annually.
b.
a series of payments of unequal amounts with a maturity period.
c.
a series of payments of equal amounts at equal intervals with a time limit attached.
d.
a series of yearly payments that continues for a limitless time.
e.
None of the options given is correct.

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