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Obsolescence is the annual periodic payments for repayments of the capital amount invested by a party.

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in Civil Engineering Drawing by (128k points)
Obsolescence is the annual periodic payments for repayments of the capital amount invested by a party.

(a) True

(b) False

I have been asked this question in unit test.

The question is from Values, Tax, Funds & Rents etc in portion Valuation, Reports Technical and Design Data of Civil Engineering Drawing

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Right option is (b) False

The best I can explain: An annuity is a series of payments made at equal intervals. Examples of annuities are regular deposits to a savings account, monthly home mortgage payments, monthly insurance payments and pension payments. Annuities can be classified by the frequency of payment dates. The payments (deposits) may be made weekly, monthly, quarterly, yearly, or at any other regular interval of time.

An annuity which provides for payments for the remainder of a person’s lifetime is a life annuity.

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