Ron Liven is a retiree receiving a monthly annuity payment. This year his annuity payment is $4,000 per month. Last year,it was $3,700 per month,and the year before it was $3,500. Ron does NOT know what his payment will be NEXT year. What type of annuity does he have?

Question

Quizplus · Accepted Answer

Ron's annuity payments have been increasing each year, which suggests that the payments are not fixed and may vary based on certain factors, indicating a variable annuity.

Ron Liven Is a Retiree Receiving a Monthly Annuity Payment