The Term ________ Refers to the Use of a Single

question 38

Multiple Choice

The term ________ refers to the use of a single unifying device that handles media, Internet, entertainment, and telephone needs.

• A) multimedia message service
• B) telephony
• C) mobile switching center
• D) digital convergence

---

Definitions:

Perpetuity

A type of annuity that pays a fixed amount of money indefinitely, with no end date.

Interest Rates

The amount charged by lenders to borrowers for the use of money, expressed as a percentage of the principal.

Nominal Rate

The interest rate set by the lending institution, not adjusted for inflation, representing the actual yearly cost of funds over the term of a loan.

Compounding Period

The period of time after which interest is credited to the depositor’s account for purposes of computing subsequent interest.