Asked by courtney laverty on May 05, 2024
Verified
$150 a month for 72 months fits the definition of an annuity.
Annuity
A financial product that pays out a fixed stream of payments to an individual, primarily used as an income stream for retirees.
- Comprehend the meanings and distinctions between annuities due and regular annuities.
Verified Answer
AK
Ahlam KablawiMay 12, 2024
Final Answer :
True
Explanation :
An annuity is a series of equal payments made at regular intervals over a specified period, which in this case is $150 a month for 72 months.
Learning Objectives
- Comprehend the meanings and distinctions between annuities due and regular annuities.