Classify the Type of Annuity Described in the Following Scenario

question 137

Short Answer

Classify the type of annuity described in the following scenario.
A student loan carrying interest of 2.5%, compounded quarterly is repaid with payments of $1000 at the end of every three months.

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Definitions:

Fluid And Electrolyte

The balance of water and minerals within the body, critical for maintaining healthy physiological processes.

Fluoxetine

A psychiatric medication used to treat major depressive disorder, bulimia nervosa, obsessive-compulsive disorder, panic disorder, and premenstrual dysphoric disorder.

Poisonous Snake

A snake species that produces venom harmful to humans and animals.