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Which of the following statements best defines an annuity?

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Which of the following statements best defines

an annuity?

An annuity is a periodic payment made to a

lender.

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An annuity is an annual payment of money owed by

a borrower to a lender.

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An annuity is a sequence of equal or same-amount payments made at equal

time intervals.

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An annuity is a series of equal or same-amount payments

made at equal time intervals.

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