the term ________ is best described as a stream of equal installments made at equal time intervals.
The term LectureNotes is best described as a stream of equal installments made at equal time intervals.
Answer:
The term annuity is best described as a stream of equal installments made at equal time intervals. An annuity is a financial product that pays out a fixed stream of payments to an individual, typically retirees. These payments are made regularly, such as monthly or annually, providing a reliable source of income. Annuities can be a useful tool for retirement planning, as they offer a steady income stream for a specific period or for the rest of the individual’s life. There are different types of annuities, including fixed annuities, variable annuities, and indexed annuities, each with its own features and benefits.