1 Flashcards
1
Q
What is a Simple Annuity?
A
An annuity where the payment interval is the same as the interest period.
2
Q
What is a General Annuity?
A
An annuity where the payment interval is not the same as the interest period.
3
Q
What is an Ordinary Annuity?
A
A type of annuity in which the payments are made at the end of each payment interval.
4
Q
What is an Annuity Due?
A
A type of annuity in which the payments are made at the beginning of each payment interval.
5
Q
What is an Annuity Certain?
A
An annuity in which the payments begin and end at definite times.
6
Q
What is a Contingent Annuity?
A
An annuity in which payments extend over an indefinite (or indeterminate) length of time.
