Three parents are discussing the allowances that they give to their 10-year-old sons. Although each child receives a total of $520 per year, the manner in which the payments are made differs:
Jack gives his son $10 per week.
Bill gives his son $400 on January 1 and the remaining $120 on December 31.
Brian gives his son half ($260) on January 1 and the other half on July 1.
The parent(s) whose payment system can be described as an annuity is (are):
1) only Jack.
2) both Jack and Brian.
3) all three, because all provide the same annual amount.
