## Answers

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23 | An ordinary annuity is a series of equal payments made at the end of consecutive periods over a fixed length of time. |

Answer is Option C. | |

24 | A perpetuity is an annuity that has no end, or a stream of cash payments that continues forever. |

Answer is Option D. | |

25 | An annual percentage rate (APR) is the annual rate charged for borrowing or earned through an investment. |

Answer is Option B. | |

26 | The present value of an annuity is the current value of future payments from an annuity, given a specified rate of return or discount rate. The annuity's future cash flows are discounted at the discount rate. Thus, the higher the discount rate, the lower the present value of the annuity |

Answer is Option E. | |

27 | The effective annual interest rate is the interest rate that is actually earned or paid on an investment, loan or other financial product due to the result of compounding over a given time period. It is also called the effective interest rate, the effective rate or the annual equivalent rate. |

Answer is Option C. | |

28 | The effective annual interest rate is the interest rate that is actually earned or paid on an investment, loan or other financial product due to the result of compounding over a given time period. It is also called the effective interest rate, the effective rate or the annual equivalent rate. So you should compare Effective Annual Rate when comparing loans. |

Answer is Option B. |

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