9. What is the time between the first payment interval and last payment interval?
a. Periodic Payment
b. Term of an Annuity
c. Payment Interval
d. Present Value of an Annuity
10. What is the amount of each payment?
a. Future Value of an Annuity
b. Periodic Payment
c. Present Value of an Annuity
d. Term of an Annuity
11. What is the sum of future values of all the payments to be made during the
entire term of the annuity?
a. Periodic Payment
b. Payment Interval
c. Present Value of an Annuity
d. Future Value of an Annuity
12. What is the time between successive payments ?
a. Periodic Payment
b. Term of an Annuity
c. Time
d. Payment interval
13. Which is NOT an example of Installment basis purchase?
a. Pension
b. Car
c. House
d. Cellphone
For item numbers 14-15, refer to the following:
Suppose you would like to save P 1,500 at the end of each month, for a year, in
a bank that gives 2.5% compounded monthly.
14. What type of annuity is present in the situation above?
a. Simple Annuity Due
b. General Annuity Due
c. Simple Annuity Immediate
d. General Annuity Immediate
15. What is the interest rate per annum in decimal form?
a. 2.5
b. 0.25
c. 0.025
d. 0.0025​