An annuity is defined as a series of payments of a fixed amount for a specific number of periods. Thus, $100 a year for 10 years is an annuity, but $100 in Year 1, $200 in Year 2, and $400 in Years 3 through 10 does not constitute an annuity. However, the entire series does contain an annuity. Is this statement true or false?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “An annuity is defined as a series of payments of a fixed amount for a specific number of periods. Thus, $100 a year for 10 years is an ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Having a hard time understanding credits and debits
Answers (2)
What are some differences between command, market, and traditional economies?
Answers (1)
A company provides services to customers on account for $2,300. Indicate the amount of increases and decreases in the accounting equation.
Answers (1)
Clinton Corporation has two decentralized divisions, Alpha and Beta. Alpha always has purchased certain units from Beta at $95 per unit. Beta plans to raise the price to $133 per unit, the price it receives from outside customers.
Answers (1)
Amy notices that her credit card company has charged too high an interest rate for delayed payment this month.
Answers (1)
New Questions in Business
Which of the following is a record of a transaction that already happened and was paid for? A. an invoice B. A bill C. A receipt D. A receivable
Answers (2)
A company purchased a two-year fire insurance policy on May 1, 2012. It paid the $2,400 premium in cash on the same date and recorded the entry with a debit to Prepaid Insurance for $2,400.
Answers (1)
Market segments that can be effectively reached and served are said to be
Answers (1)
9. An expenditures incurred on factors of production A, cost B, input C, fixed input D, variable input
Answers (1)
Evan has a Bachelor's degree in ethics and human resources, and he has extensive experience working with employees and managers regarding ethics, especially in the area of ethical dilemmas.
Answers (1)