The Board of Education in a city introduced a long-term disability plan for its employees. The plan provides for annual payments equal to 85% of regular salary starting at the beginning of the first year of disability. Assume the plan is subject to semi-annual compounding. Classify the annuity by the (a) term; (b) date of payment; and (c) conversion period (a) Based on the term, the annuity is 1 (b) Based on the date of payment, the annuity is t (c) Based on the conversion period, the annuity is The Board of Education in a city introduced a long-term disability plan for its employees. The plan provides for annual payments equal to 85% of regular salary starting at the beginning of the first year of disability. Assume the plan is subject to semi-annual compounding Classify the annuity by the (a) term: (b) date of payment; and (c) conversion period. (a) Based on the term, the annuity is (b) Based on the date of payment, the (c) Based on the conversion period, t an annuity certain. a perpetuity. a contingent annuity. The Board of Education in a city introduced a long-term disability plan for its employees. The plan provides for annual payments equal to 85% of regular salary starting at the beginning of the first year of disability. Assume the plan is subject to semi-annual compounding. Classify the annuity by the (a) term; (b) date of payment; and (c) conversion period CE (a) Based on the term, the annuity is (b) Based on the date of payment, the annuity is (c) Based on the conversion period, the annuity is an annuity due. an annuity due and deferred. an ordinary annuity an ordinary annuity deferred. The Board of Education in a city introduced a long-term disability plan for its employees. The plan provides for annual payments equal to 85% of regular salary starting at the beginning of the first year of disability. Assume the plan is subject to semi-annual compounding. Classify the annuity by the (a) term; (b) date of payment and (c) conversion period (a) Based on the term, the annuity is (b) Based on the date of payment, the annuity is (c) Based on the conversion period, the annuity is a general annuity a simple annuity