Difference between revisions of "Annuity"
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Revision as of 04:20, 12 March 2016
An annuity is a series of equal payments at regular intervals.
Description
Examples of annuities are regular deposits to a savings account, monthly home mortgage payments, monthly insurance payments and pension payments.
Annuities are classified by the frequency of payment dates.
The payments (deposits) may be made weekly, monthly, quarterly, yearly, or at any other interval of time.
Life annuity
An annuity which provides for payments for the remainder of a person's lifetime is a life annuity.
See also
External links
- Annuity @ Wikipedia
