Which of the following specifies a guaranteed minimum rate of interest that will be paid on the principal amount invested into the annuity?

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The fixed rate guarantees a minimum rate of interest will be paid on the principal amount invested into the annuity. Fixed rate annuities let the contract owner know the minimum amount that will be earned during the period of accumulation. The insurer invests each premium payment and credits the interest to the annuity's cash value. This is never less than the guaranteed minimum.

Which of the Following Specifies a Guaranteed Minimum Rate of Interest