Examlex
Which of the following is a liability account?
Annuity Contract
A financial product offered by insurance companies that provides a series of payments at regular intervals for a specified period or for life.
Present Value
Today's value of a future monetary amount or a string of cash flows, considering a specified rate of return.
Periodic Interest Rate
The interest rate charged or earned over a particular period of time, often monthly, quarterly, or annually, as opposed to the annual percentage rate (APR).
Annuity
A retirement funding product that assures fixed payments over time to the receiver, primarily aimed at providing a stable income for retirees.
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