Ron Liven Is a Retiree Receiving a Monthly Annuity Payment

Ron Liven is a retiree receiving a monthly annuity payment. This year his annuity payment is $4,000 per month. Last year,it was $3,700 per month,and the year before it was $3,500. Ron does NOT know what his payment will be NEXT year. What type of annuity does he have?

A) fixed incremental increase
B) installment refund
C) cash refund
D) variable annuity

Correct Answer:

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