An annuity is:

Question

An annuity is:

Quizplus · Accepted Answer

An annuity refers to a stream of payments made at regular intervals, typically over a fixed period of time. This is commonly used for retirement plans, insurance policies, and other financial products. Lotteries sometimes offer annuity options for jackpots, where winners can choose to receive their winnings in a series of payments over time instead of a lump sum. Therefore, option A is not correct. Option B is incorrect because an annuity is not a one-time payment, but rather a series of payments. Option D is also incorrect because an annuity typically consists of equal payments. Therefore, the correct answer is option C.

An Annuity Is