A concept often encountered in finance is the term "annuity," referring to a series of regular payments of equal amounts. This type of arrangement is commonly used in various financial products, such as loans and insurance plans. Annuities can be a valuable tool for managing cash flow and planning for future expenses. It is important to understand the intricacies of annuities in order to make informed financial decisions. Let's delve deeper into this topic and explore the different types of annuities and their implications.
