Carefully Identify,define Each Term and Give Differences Between the Implementation

question 22

Essay

Carefully identify,define each term and give differences between the implementation and the interface of an abstract data type (ADT).This requires a bit more writing of English than other question on this test.

---

Definitions:

Interest Rate

The fraction of a loan billed as interest to the borrower, commonly expressed as a yearly percentage of the remaining loan amount.

Payments

Amounts of money transferred from one party to another as fulfillment of a financial obligation.

Life Annuity

An insurance product that provides the holder with a series of payments for the remainder of their life, in exchange for an initial lump sum payment.

Term Annuity

An annuity that provides regular payments over a fixed period of time, after which payments cease.