Which of the following is an example of an annuity? A) lump-sum payment made to a life insurance company that promises to make a series of equal payments later for some period of time B) An investment in a certificate of deposit (CD)

The correct answer is letter "A": lump-sum payment made to a life insurance company that promises to make a series of equal payments later for some period of time.

Explanation:

An annuity is a payment made to an insurance company under the promise the insurance will make equally-distributed repayments to the policyholder at a specific period. The payments for the annuity are usually made in a lump-sum but they can be paid in small installments. When the repayments start immediately after the insured hires the policy, the insurance is called it is called an annuity due.

a. money supply  

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