Lila invested 10000 in one of long life insurance company annuity contracts. When issued, the contract was paying a 5 percent ra

Question

LUCKY_DIMON [66]

2 years ago

13

Lila invested 10000 in one of long life insurance company annuity contracts. When issued, the contract was paying a 5 percent ra

te of return

Mathematics

1 answer:

Mars2501 [29] · Answer 1 · 2023-06-15T07:35:53+03:00

The kind of annuity does Lila own is: variable immediate annuity.

<h3>What is variable immediate annuity?</h3>

Variable immediate annuity can be defined as the type of annuity that vary or fluctuate based on the type of investment you choose or pick.

In this type of annuity the payment you will receive will not be fixed reason being that payments that will made to you will always increase or decrease.

Therefore the kind of annuity does Lila own is: variable immediate annuity.

Learn more about variable immediate annuity here:brainly.com/question/13644926

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