[amp_mcq option1=”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” option2=”Electricity Bill” option3=”Car payments made by the loanee car owner” option4=”Periodical mortgage payments” correct=”option2″]<\/p>\n
The correct answer is B. Electricity Bill.<\/p>\n
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.<\/p>\n
Option A is a case of annuity because it meets the definition of an annuity. The payment of Rs.10,000 is made at regular intervals (every year) for a fixed period of time (one year).<\/p>\n
Option B is not a case of annuity because the payment of electricity bill is not made at regular intervals. The amount of the payment may vary depending on the usage of electricity.<\/p>\n
Option C is a case of annuity because the car payments are made at regular intervals (monthly) for a fixed period of time (the term of the loan).<\/p>\n
Option D is a case of annuity because the mortgage payments are made at regular intervals (monthly) for a fixed period of time (the term of the mortgage).<\/p>\n","protected":false},"excerpt":{"rendered":"
[amp_mcq option1=”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” option2=”Electricity Bill” option3=”Car payments made by the loanee car owner” option4=”Periodical mortgage payments” correct=”option2″]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[261],"tags":[],"class_list":["post-32406","post","type-post","status-publish","format-standard","hentry","category-insurance","no-featured-image-padding"],"yoast_head":"\n