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XYZ Insurance offers an annuity with 5% APR for the next 10 years you decide to invest $1,000 each year into the account what type of annuity is this

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Answer:

Recurring-payment fixed annuity

Step-by-step explanation:

The annuity is, fixed annuity with recurrent payments.

Fixed Annuity Advantages:

Fixed annuity owners can benefit from their investments in a variety of ways.

What is the fixed annuity?

A fixed annuity is a type of insurance contract that guarantees the buyer a precise, fixed interest rate on their account contributions. A variable annuity, on the other hand, pays interest that varies depending on the performance of an investment portfolio specified by the account's owner. In retirement planning, fixed annuities are frequently employed.

Hence, Recurring-payment fixed annuities are the type of annuity used.

Learn more about fixed annuity here, https://brainly.com/question/14908942

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