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The entity principle states that the affairs of the owners are not part of the financial
operations of a business entity and should be separated.
20-year Annuity
A financial product that provides a stream of payments to the holder for a period of 20 years.
Future Value
The value of a current asset at a specified date in the future based on an assumed rate of growth or interest.
Ordinary General Annuity
An annuity in which the payment interval does not equal the compounding interval, and payments are made at the end of each payment interval.
Semi-annual Payments
Payments made twice a year, often in the context of loans, investments, or insurance premiums.
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