An annuity provides the same payment every period, and a face value payment at the end of its life.

Name: An annuity provides the same payment every period, and a face value payment at the end of its life.
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Question

Quizplus · Accepted Answer

An annuity provides the same payment every period, but it does not include a face value payment at the end of its life; that feature is characteristic of a bond or a similar financial instrument.

An Annuity Provides the Same Payment Every Period, and a Face