An annuity is a series of payments or receipts of a specific amount and frequency.

Name: An annuity is a series of payments or receipts of a specific amount and frequency.
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An annuity is indeed a financial product that pays out a fixed stream of payments to an individual, typically used as an income stream for retirees. It involves a series of equal payments at regular intervals, such as monthly or annually.

An Annuity Is a Series of Payments or Receipts of a Specific