What is the definition of an annuity?
A) a series of payments (or receipts) of an even amount for a period of one year only
B) an uneven series of payments (or receipts) for an unspecified number of years
C) a series of payments (or receipts) of uneven amount for a specified number of years
D) a series of payments (or receipts) of an even amount for a specified number of years
Correct Answer:
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