A Lease Payment Can Be Thought of as A(an)

question 45

Multiple Choice

A lease payment can be thought of as a(an) :

• A)ordinary annuity.
• B)annuity due.
• C)series of unequal payments.
• D)perpetuity.

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Definitions:

Checking Account

A bank account that allows the holder to withdraw funds using checks or a debit card, typically used for daily transactions.

Deposit

A sum of money placed into an account or given as a security for the future payment of a service.

Certified Check

A check validated by a bank where the bank guarantees the availability of the funds behind the check.

Personal Check

A hand-written document that orders a bank to pay a specific amount of money from the writer's account to another party.