In the Early Nineteenth Century,many Members of Congress

question 56

Multiple Choice

In the early nineteenth century,many members of Congress

• A)had to live in tents when in Washington,D.C.
• B)stayed in Washington year-round.
• C)considered their state legislatures to be more prestigious political bodies.
• D)had to live in tents in Washington,D.C.,year-round,and considered their state legislatures to be more prestigious political bodies.
• E)None of these answers is correct.

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Definitions:

Annuities Due

Annuities Due refer to a series of equal payments made at the beginning of consecutive periods over a fixed length of time, often used in finance to represent contracts that require such payments.

Ordinary Annuities

Ordinary annuities are a series of equal payments made at the end of consecutive periods over a fixed length of time.

Perpetuity

A financial term referring to a security or form of investment that pays an infinite series of cash flows with no end date.

Endowment Fund

A financial asset, in the form of donations, made to non-profit organizations that uses the generated income for a specific purpose.