Answer:
The correct answer is letter "B": A retirement fund set up to pay a series of regular payments.
Explanation:
An annuity is a financial product intended to pay a fixed sum of cash in the future. Annuities are usually used to guarantee regular income in later years as a retirement fund. When an individual purchases an annuity, the individual agrees to pay a lump sum in advance or to make a regular schedule of deposits to a financial institution that is usually an insurance company.
