Distinguishing between Simple and General Annuities
Quiz by Mark James Magnaye
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3 questions
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- Q1Sally intends to borrow money as capital for her business. To pay it off she will pay ₱3,000 at the end of every month for 6 years. The money is compounded by 5% quarterly. What kind of annuity does this problem illustrate?present value of a simple ordinary annuitypresent value of a general annuity duepresent value of a general ordinary annuitypresent value of a simple annuity due30s
- Q2Jean plans to save money for the future. She will set aside ₱5,000 at the end of every month and put it on an investment company where her money will grow by 3.5% monthly. She will do this for 30 years. What kind of annuity does this problem illustrate?future value of a simple annuity duepresent value of a simple ordinary annuitypresent value of a simple annuity duefuture value of a simple ordinary annuity30s
- Q3Mina wants to earn her first million 20 years from now. To do this, she will save money at the end of every 2 months and put it on an investment company, where her money will grow by 6.4% semiannually. What kind of annuity does this problem illustrate.future value of a general ordinary annuitypresent value of a simple ordinary annuityfuture value of a general annuity duepresent value of a simple annuity due30s