Examlex
Malik constantly strives to excel.He must always get the highest grade in the class and has a sense of urgency about him at all times.Malik probably has which of the following?
Life Annuity
An insurance product that guarantees regular payments to the annuitant for life, in exchange for an initial investment.
Term Annuity
An insurance product that pays out income over a fixed period or term, not necessarily for life.
Compounded Monthly
This involves the recalculating of interest on a loan or investment by taking into account both the initial principal and the accumulated interest from previous periods, recalculated on a monthly basis.
Life Annuity
A financial product providing a series of payments at regular intervals for the remainder of the annuitant's life.
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