A savings instrument where the customer makes a lump sum payment to the investment manager who invests the payment in earning assets and later receives a stream of income from the assets is called:

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This savings instrument is commonly known as an annuity. The customer invests a lump sum payment with an investment manager who then invests the payment in earning assets. The customer then receives a stream of income from the assets at a later date.

A Savings Instrument Where the Customer Makes a Lump Sum