4) The major difference between an annuity and a perpetuity is: a) An annuity offers fixed cash payments that are payable over a limited time period; A perpetuity offers fixed cash payments over an unlimited duration. b) An annuity offers fixed cash payments over an unlimited duration; A perpetuity offers fixed cash payments that are payable over a limited time period. c) An annuity offers cash payments that are growing at a constant rate for a finite period of time; A perpetuity offers cash payments that are growing at a constant rate for an infinite time period. d) An annuity offers cash payments that are growing at a constant rate for an infinite time period A perpetuity offers cash payments that are growing at a constant rate for a finite period of time