The statement "An annuity is a stream of level, evenly spaced cash flows or cash payments that never ends" is false?
What is an annuity?
An annuity is a stream of level, evenly cash flows or cash payments that is paid to an individual over a definite number of years, in other words, an annuity has a fixed term not that it is paid forever or indefinitely.
However, perpetuity is the stream of evenly spaced cash flows that a beneficiary receives forever, it is similar to annuity, but the difference in the period of payments, the former has a fixed tenure such as 10 years, whereas the latter is never ending.
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