A series of equal payments (e.g., deposit or cost) made at equal intervals of time is known as __________________?
Correct answer: C. Annuity
- A. Perpetuity
- B. Capital charge factor
- C. Annuity
- D. Future worth
Explanation
Equal payments made at equal time intervals form an annuity. A perpetuity is a special annuity that continues indefinitely, while future worth is the accumulated value rather than the payment series itself.
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