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what is annuity?
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Asked 3/29/2010 12:57:12 PM
Updated 4/28/2014 8:01:25 PM
2 Answers/Comments
Flagged by jerry06 [4/28/2014 8:01:25 PM]
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User: what is annuity?

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Question
Asked 3/29/2010 12:57:12 PM
Updated 4/28/2014 8:01:25 PM
2 Answers/Comments
Flagged by jerry06 [4/28/2014 8:01:25 PM]
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Annuity is a specified income payable at stated intervals for a fixed or a contingent period, often for the recipient's life, in consideration of a stipulated premium paid either in prior installment payments or in a single payment.
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Added 4/28/2014 8:01:20 PM
This answer has been confirmed as correct and helpful.
Confirmed by alfred123 [4/28/2014 8:04:56 PM]
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The term annuity is used in finance theory to refer to any terminating stream of fixed payments over a specified period of time. This usage is most commonly seen in discussions of finance, usually in connection with the valuation of the stream of payments, taking into account time value of money concepts such as interest rate and future value.
Added 3/29/2010 1:14:11 PM
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