# The nominal interest rate associated with an ordinary general annuity is 8% compounded monthly. Rounded to the

## Question:

a. Annual payments?

b. Semiannual payments?

c. Quarterly payments?

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,...

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