Answer:
annuity
Explanation:
Retirement annuities are helpful because they can guarantee a steady income during your retirement years. They can be either fixed retirement annuities (they provide a fix amount of money until you die) or variable annuities where the amount of money depends on how well your investments perform.
Answer: 17.22%
Explanation:
Effective interest rate is calculated by the formula:
= (1 + APR / Number of compounding periods) ^ Number of compounding periods - 1
Number of compounding periods = 12 months in the year
= (1 + 0.1599/12)¹² - 1
= 0.172155
= 17.22%
Large companies have the ability to take advantage from the economies of scale through offering goods which are more affordable than other smaller retailers. This is because as the company grows, their unit cost decreases due to some factors caused by the economies of scale.