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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 sequence of equal or same amount payments at equal time intervals.

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An annuity is a series of equal or same amount payments at equal time intervals.

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An annuity is a periodic payment made to the lender.

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An annuity is an annual payment of money owed by a borrower to a lender.

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