An annuity may be defined as
A) a payment at a fixed interest rate.
B) a series of payments of unequal amount.
C) a series of yearly payments.
D) a series of consecutive payments of equal amounts.

Question

Quizplus · Accepted Answer

An annuity is defined as a series of consecutive payments of equal amounts. These payments may be made weekly, monthly, quarterly, annually, or at any other regular interval of time. An annuity may be paid for a specific period or for the lifetime of the beneficiary.

An Annuity May Be Defined as