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Which of the following is the best definition of an annuity? a . Annuities payments can vary over a fixed number of periods. b .

Which of the following is the best definition of an annuity?

a $.$ Annuities payments can vary over a fixed number of periods.

b $.$ Annuities have constant payments that can be received into perpetuity.

c $.$ Annuities have constant payments over a fixed number of periods.

d $.$ Annuities can have an infinite number of payments

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