Answer:
Other things held constant, as the interest rate increases, the present value of an annuity increases.
Step-by-step explanation:
Annuities are insurance contracts that provide a fixed income stream for a person's lifetime or a specified period of time. An annuity can be purchased with a lump sum or a series of payments and begin paying out almost immediately or at some point in the future. Annuities are often used as a way to fund retirement
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