Respuesta :
A traditional (non-growing) annuity consists of a(n) level stream of cash flows for a fixed period of time.
An insurance contract known as an "annuity" is one that financial institutions sell with the goal of paying out invested money as a fixed income stream in the future. Annuities are bought or invested in by investors using lump-sum payments or monthly premiums.
A future stream of payments for a predetermined amount of time or for the length of the annuitant's life is issued by the holding institution. Generally used for retirement planning, annuities assist people in reducing the danger of outliving their assets.
As a result, these financial instruments are suitable for investors, also known as annuitants, who need a steady, certain retirement income.
It is not advised for younger people or those with liquidity demands to use this financial instrument due to invested cash's illiquidity and withdrawal penalties.
Learn more about annuity here:
https://brainly.com/question/15129687
#SPJ4