Type of annuity that is made at the end of each period Perpetuity Annuity Due Ordinary Annuity O Deferred Annuity
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- The total amount of the annuity payments and the accumulated interest on those payments is known as the future value of the annuity.An annuity in which the first cash flow occurs at the beginning of the period is called a/an: Oordinary perpetuity. growth annuity. Oordinary annuity. annuity due.The present value of an annuity due is determined on the last day of the first annuity period. on the first day of the last annuity period. on the last day of the last annuity period. on the date of the first cash flow in the series.
- The present value of an ordinary annuity is determined on the last day of the first annuity period. on the first day of the first annuity period. on the last day of the last annuity period. immediately before the first cash flow in the series occurs.With a deferred ordinary annuity, the first payment was made one or more periods prior. the first payment begins one or more periods later. the last payment is made first. the first payment is made last.Present value of an ordinary annuity. Fill in the missing present values in the following table for an ordinary annuity:
- Which is NOT an essential element of an ordinary annuity? Select the correct response: The payments are made at equal interval of time. The amounts of all payments are equal. The first payment is made at the beginning of the first period. Compound interest is paid on all amounts in the annuity.A series of equal payments occurring at equal interval of time, known as. Ans: ____________ A type of annuity where the first payment is made at the end of the first period. Ans: ___________________ A type of annuity whose sum is infinite. Ans: _____________ A type of annuity where the first payment is made at the beginning of the first period. Ans: ______________ A type of annuity where the first payment is made later after the end of the first period. Ans: ___________________A series of equal periodic payments in which the first payment is made one compounding period after the date of the contract is ________. Group of answer choices a deferred annuity a compound annuity an ordinary annuity an annuity due
- Solve and explain using Perpetuity Annuity - paid indefinitely or foreverFor each of the following cases, calculate the present value of the annuity, assuming the annuity cash flows occur at the end of each year. SEE DETAILS IN PIC"The payments are made monthly and its compounding periods is quarterly." What kind of annuity is this? a. simple annuity b. general annuity