Question

N purchases an annuity by making payments in an amount no less than $100 quarterly. This describes which of the following annuities?
A. Installment Immediate
B. Fixed Installment Deferred
C. Flexible Installment Deferred
D. Flexible Premium Immediate

Answer 1

Answer: B. Fixed installment Differed

Step-by-step explanation: Since the total money to be paid quarterly that is at the end of every 3 months should be greater or equal to $100 {that is the least accumulated amount is $100 but it can exceed}we say it is a Fixed installment Differed and it's as continuity.