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Options
- A
Monthly home mortgage loan payments of fixed or variable amounts to repay the loan with interest
-
A fixed or variable stream of payments received for a specified period in lieu of a lump sum payment
Correct answer
- C
A variable amount deposited in a bank account whenever available with the depositor
- D
An amount invested systematically over a period of time to accumulate the required corpus
Why this is the answer
An annuity involves receiving a series of regular payments—fixed or variable—over a defined period, providing income stability instead of lump sum disbursement.
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