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Question 9 (1 point) An annuity is an account into which money is placed on a regular basis. True False
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Ans------> TRUE.

Annuity is a account into which money is placed on a regular basis.

Annuity can be classified by the frequency of payment dates. The payments (deposits) may be made weekly, monthly, quarterly, yearly or at any other regular interval of time. An annuity which provides for payment for the remainder of person's lifetime is a life annuity.

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