MAT.116 4.2

Mere som dette

Mean, Median, Mode & Range

af Callen Vernlund

PREFIXES AND SUFFIXES

af BRYAN MAURICIO ZHIZHPON SALAZAR

PAST PERFECT SIMPLE

af Nela b

Regus

af Andy Whyte

MAT.116 4.2

Examples of Annuities

Future Value of an Annuity

A formula which calculates the accumulated, or future, amount of an ordinary, certain, simple annuity with equal payments.

Present Value of an Annuity

A formula which calculates the current, or present, value of an ordinary, certain, simple annuity with equal payments.

Ordinary, certain, simple annuities with equal payments

Definitions for Annuities

Payments

Payments in an annuity need not be equal, but we will choose to assume they are.

Complex Annuity

If the payment periods and interest conversion periods do not coincide, the annuity is called a complex annuity.

Simple Annuity

If the payment periods and interest conversion periods coincide, the annuity is called a simple annuity.

Annuity Due

An annuity due is an annuity where the payments are made at the beginning of each payment period.

Ordinary Annuity

An ordinary annuity is an annuity where the payments are made at the end of each payment period.

Term

The time period in which these payments are made is called the term of the annuity.

Contingent Annuity

An annuity with a term that is not fixed in advance.

Perpetuity

An annuity with a definite beginning date but no ending date.

Annuity Certain

An annuity where the term is a fixed time interval.

Annuity

An annuity is a sequence of payments made at regular time intervals.