Summative Test 3

It is a series of equal payments at regular intervals.

• Interest

• Annuity

• Logic

• Proposition

Ordinary annuity is paid or received at the _______ of the time periods.

• beginning

• end

• middle

• quarter

Annuity Due is an annuity that is paid or received at the ____________ of the time period

• end

• beginning

• middle

• quarter

The term used for an annuity in which the number of compounding periods per year coincides with the number of annuity payments per year.

• Simple

• Regular

• General

• Value

It is an annuity in which the annuity payments and compounding periods do not coincide.

• Simple

• General

• Regular

• Compound

Another term used for Future Value of an Annuity which is the sum of the compound amount of all payments, compounded to the end of term

• Maturity Value

• Expanded

• Complicated Value

• Present Value

Determine the present value on July 7 of P6,800 paid at the end of each subsequent calendar quarter for 7 years if money is worth 6% compounded quarterly. What is the type of annuity in the given?

• Simple

• General

• Deferred

Eli has decided to make semiannually payments P7,800 at the end of every 6 months for 8 years into an investment that he thinks will yield 7% compounded semiannually. What lump sum deposited today will result to the same future value?

TYPE OF ANNUITY?

• Simple

• General

• Deferred

What type of annuity is described in the given?

If P2,000 is invested at the end of every year at 8% compounded semiannually, what will be the total value of the periodic investments after 20 years?

• Simple

• General

• Deferred

What is the type of annuity in the given problem?

What is the future value of an annuity of P48,000 per annum, for 5 years, at 15% interest compounded monthly?

• Simple

• General

• Deferred