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Explain the concept of the demographic transition, and discuss its applicability to different types of societies.
Annuities
Financial products that provide a stream of payments over time in exchange for an initial lump sum investment.
Periodic Interest Rate
The interest rate charged or paid over a specific period of time, often less than one year, such as a month or quarter.
Annuity
A monetary scheme providing regular payment intervals to a person, often employed as a retirement income solution.
Payment Interval
The regular time period between payments on a loan or investment, such as monthly or annually.
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