## Annuity:

Annuity refers to a series of equal amounts of deposits or payments, which is paid at an interval period of time. Examples of annuity are the monthly home mortgage payment, insurance payment, or monthly pension.

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The following equation is the formula on calculating the monthly payments of the car.

{eq}Annuity=\displaystyle...

How to Find the Value of an Annuity

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Chapter 21 / Lesson 15
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An annuity is a type of savings account that pays back the investor in the future. Learn the formula used to calculate an annuity's value, and understand the importance of labeling specific numbers to calculate an output over time.