If a Series of Equal Payments Is Received Regularly at the End

question 65

Multiple Choice

If a series of equal payments is received regularly at the end of the year, and each is deposited immediately at the same interest rate, the ____ is the sum of all the payments and all the interest earned at the end of the series.

• A)future value of an annuity due
• B)present value of an annuity due
• C)future value of an ordinary annuity
• D)present value of an ordinary annuity
• E)none of the above

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Definitions:

Implied Assumption

Implied Assumption refers to an unstated understanding or expectation inherent within a contract or agreement, based on the nature of the transaction and parties' conduct.

Contributory Negligence

A legal doctrine that can limit the liability of the defendant if the plaintiff is found to have contributed to the harm they suffered.

Strict Liability

A legal doctrine under which a party is held responsible for damages or harm caused by their actions or products, without the need to prove negligence or intent.

Contributory Negligence

Contributory Negligence is a legal defense in tort law where the plaintiff's own negligence played a role in causing the harm and can limit or bar recovery from the defendant.