SIMPLE, GENERAL AND DEFERRED ANNUITIES Flashcards
1
Q
payment interval = interest period
A
Simple Annuity
2
Q
payment interval =/ interest period
A
General Annuity
3
Q
payment made at the end of each interval
A
Ordinary / Annuity Immediate
4
Q
payments begin and end at definite times
A
Annuity Certain
5
Q
payments start in more than 1 period from the present
A
Deferred Annuity
6
Q
sequence of payments made at a regular interval of time
A
Annuity
7
Q
downpayment + reserve value
A
fair market value
8
Q
period of deferral
A
k
9
Q
total # of conversion periods
A
n
10
Q
interest rate
A
r
11
Q
rate of interest per period
A
j
12
Q
of compounding periods in a year
A
m
13
Q
periodic payment
A
R
