question 4 of 10\nmeeko insurance offers an annuity with a minimum interest rate of 3% for the next 10…

question 4 of 10\nmeeko insurance offers an annuity with a minimum interest rate of 3% for the next 10 years. you decide to invest $2500 into this account. what type of annuity is this?\na. recurring - payment variable annuity\nb. single - payment fixed annuity\nc. recurring - payment fixed annuity\nd. single - payment variable annuity

question 4 of 10\nmeeko insurance offers an annuity with a minimum interest rate of 3% for the next 10 years. you decide to invest $2500 into this account. what type of annuity is this?\na. recurring - payment variable annuity\nb. single - payment fixed annuity\nc. recurring - payment fixed annuity\nd. single - payment variable annuity

Answer

Brief Explanations:

  1. Analyze payment type: Only one - time investment of $2500 is made, so it's a single - payment annuity.
  2. Analyze interest rate type: There is a minimum interest rate of 3% fixed for 10 years, so it's a fixed annuity.

Answer:

B. Single - payment fixed annuity