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This activity contains 10 questions.
What type of annuity where the payment interval is the same as the interest period?The main difference is that in a simple annuity the payment interval is the same as the interest period while in a general annuity the payment interval is not the same as the interest period.
Is an annuity where the payment interval is the same as the interest compounding period?As with all ordinary annuities the payments are made at the end of each payment interval. It is also the case that the compounding interval equals the payment interval. This means that if the payment interval is monthly then interest will also be compounded monthly.
When all the payments of the annuity are equal then it is called?If the periodic payments are all equal, the annuity is called level of uniform annuity.
What is payment interval in annuity?A payment interval is the time between successive payments. The periodic payment of an annuity is the amount deposited or paid for each payment interval. The term of an annuity is the time from the beginning of the first payment to the end of the last payment interval.
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