A given sum of money received each year for a specific number of years is called a(n)

Question

Quizplus · Accepted Answer

A sum of money received each year for a specific number of years is called an annuity. An annuity is a financial product that pays out a fixed stream of payments to an individual, typically used as a means of saving for retirement. The other options listed (bond, perpetuity, debt, and discount) refer to different financial concepts and do not fit the definition given in the question.

A Given Sum of Money Received Each Year for a Specific