QUIZ 2 - ANNUITY AND INTEREST
Quiz by JOANA FELIZA GUEVARA
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25 questions
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- Q1A debt is to be paid by regular payments of ₱3,000 paid at the end of every 2 months for 5 years. The first payment is due at the end of one year. How many periods of deferral are there?5671260s
- Q2A debt is to be paid by regular payments of ₱15,000 paid at the end of every 3 months for 8 years. The first payment will be done after 3 years. How many periods of deferral are there?1257660s
- Q3Find the present value of a deferred annuity of ₱30,000 at the end of every year for 10 years. The first payment will be done at the end of the second year, and the money is compounded by 3% annually.₱281,325.88₱241,216.03₱248,452.51₱278,540.47300s
- Q4Find the present value of a deferred annuity of ₱12,000 at the end of 6 months for 18 years. The first payment will be done after three years, and the money is compounded by 2.5% semiannually.₱321,303.71₱325,320.00₱249,843.52₱243,749.78300s
- Q5Jean borrowed a debt of ₱500,000 from a bank that charges an interest of 6% compounded quarterly. Her first payment is due at the end of 3 years and the last payment is done after 8 years. If she pays her debt at the end of every 3 months, how much is her regular payments?₱23,659.55₱23,309.90₱67,391.82₱71,435.33300s
- Q6Money invested in an annuity for a period of time and withdrawn later usually in retirement is aWithdrawn AnnuityDeferred annuityRetirement AnnuityImmediate annuity20s
- Q7An annuity with a guaranteed payout is aGuaranteed AnnuityFlexible AnnuityFixed AnnuityVariable Annuity10s
- Q8An annuity is an insurance product.truefalseTrue or False20s
- Q9An annuity pays a steady stream of income.truefalseTrue or False20s
- Q10An annuity has an annual contribution limit of $17,500.falsetrueTrue or False20s
- Q11It is the sum of future values of all payments to be made during the entire term of the annuity.Users re-arrange answers into correct orderJumble20s
- Q12Time between the first payment interval and last payment intervalUsers re-arrange answers into correct orderJumble45s
- Q13It is a sequence of payments made at an equal time period.Users re-arrange answers into correct orderJumble45s
- Q14It is the time between successive paymentsUsers re-arrange answers into correct orderJumble45s
- Q15It is the amount of each payment.Users re-arrange answers into correct orderJumble45s