Question: Let's find out how far you might already know about this topic! Please take this challenge! Have Fun! Choose the letter of the best answer.

Let's find out how far you might already know about this topic! Please take this challenge! Have Fun! Choose the letter of the best answer. Write the chosen letter on a separate sheet of paper. 1. What do you call a sequence of payments made at equal time periods? a. Annuity b. Simple Interest 2. What is a type of annuity where the payment interval is the same as the interest period? a. General Annuity b. Simple Annuity c. Simple Interest d. Compound Interest 3. What is the type of annuity in which the payment interval is not the same as the interest period? a. General Annuity b. Simple Annuity c. Simple Interest d. Compound Interest 4. What is equal to the down payment (if there is any) plus the present value of the installment payments? a. Downpayment b. Cash Price c. Markup d. Markdown 5. Installment payment for an appliance at the end of each month with interest compounded monthly is an example of what type of annuity? a. General Annuity b. Simple Annuity c. Ordinary Annuity d. Annuity Due 6. Installment payment for an appliance at the end of each month with interest compounded monthly is an example of what type of annuity? a. General Annuity b. Simple Annuity c. Ordinary Annuity d. Annuity Due 7. Which is NOT an example of Annuity? a. House and Lot payment b. Tuition Fee c. Life Insurance d. Installment basis of paying a car 8. What is the sum of present values of all the payments to be made during the entire term of the annuity? a. Present Value of an Annuity b. Future Value of an Annuity c. Periodic Payment d. Term of an Annuity 9. How much should he deposit in his bank to get P 50,000 after 5.5 years? a. P 752.46 b. P 762.46 C. P 764.52 d. P 765.42 For number 10, refer to the situation below. The buyer of a car pay P300,000.00 cash as downpayment and is going to pay P 12,000.00 monthly for 5 years. 10. How much more will he be disburse (present value) after paying the downpayment amount? a. P 733,378. 37 b. P 733,784.43 c. P 737,733.37 d. P 787,733.43

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