For which of the following would the PV ANNUITY equation offer a valid solution, either from the perspective of the entity receiving or making the proposed payment?
Group of answer choices
1. An investment contract offering fixed payments at a fixed interest rate, over a specified period of time
2. Investment contract with a lump sum value at the end of the contract
3. An interest only loan from a bank
4. An insurance contract with payments specified for the life of the insured
