Payment of Rs.10, 000 received today last year on the same day and likely payment of a similar sum by the insurer next year
Electricity Bill
Car payments made by the loanee car owner
Periodical mortgage payments
Answer is Right!
Answer is Wrong!
The correct answer is B. Electricity Bill.
An annuity is a series of equal payments made at regular intervals for a fixed or indefinite period of time. The payments can be made monthly, quarterly, semi-annually, or annually. Annuities are often used to provide retirement income or to fund other long-term goals.
Option A is a case of annuity because
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