the definition of an annuity

[logistic_guy]

Determine whether or not the following situation describes an annuity. If the situation is not an annuity, explain why it is not.

A car lease requires monthly payments of \(\displaystyle \$ 235.94\) for \(\displaystyle 5\) years.

 

[khansaheb]

Determine whether or not the following situation describes an annuity. If the situation is not an annuity, explain why it is not.

A car lease requires monthly payments of \(\displaystyle \$ 235.94\) for \(\displaystyle 5\) years.

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[logistic_guy]

A car lease requires monthly payments of \(\displaystyle \$ 235.94\) for \(\displaystyle 5\) years.

\(\displaystyle \textcolor{blue}{\text{annuity}}\)