   Chapter 12, Problem 2CR ### Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447

#### Solutions

Chapter
Section ### Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447
Textbook Problem

# In a simple annuity, the number of compounding ____ per year coincides with the number of annuity ___ per year. (12-1)

To determine

To fill: The blanks provided in the statement “In a simple annuity, the number of compounding___________ per year coincides with the number of annuity _________ per year.”

Explanation

Ordinary annuity is a series of equivalent payments made at the completion of successive periods over a fixed amount of time.

Compounding periods are the intervals during which payments are made...

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