Learning Objectives

After completing this chapter, you will be able to:

Define and distinguish between ordinary simple annuities and ordinary general annuities

Calculate the future value and present value of both ordinary simple annuities and ordinary general annuities

Calculate the fair market value of a cash flow stream that includes an annuity

Calculate the principal balance owed on a loan immediately after any payment

Calculate the present value and period of deferral of a deferred annuity

Calculate the interest rate per payment interval in a general annuity

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