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Question

The series of fixed payments paid or received by a persons at specified frequency over a fixed period of time are called: 

A Instalments Correct Answer Incorrect Answer
B Annuities Correct Answer Incorrect Answer
C Maturity payments Correct Answer Incorrect Answer
D Sinking funds Correct Answer Incorrect Answer
E None of the above Correct Answer Incorrect Answer

Solution

Annuity means - a fixed sum of money paid to someone each year, over a fixed period of time.

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