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situation that illustrates general annuity​

Sagot :

Janemendoza617idn

WHAT IS GENERAL ANNUITY?

A general annuity is an annuity where the payments do not coincide with the interest periods. You will be able to see that it is very easy to deal with general annuities once an equivalent interest rate is determined with that equivalent rate being compounded as often as the payments are made.

An annuity is a series of payments made at equal intervals. Examples of annuities are regular deposits to a savings account, monthly home mortgage payments, monthly insurance payments and pension payments. Annuities can be classified by the frequency of payment dates.

What is the example of simple annuity?

For example, most car leases are simple annuities due, where payments are made monthly and interest rates are compounded monthly. However, the day you sign the lease is when you must make your first monthly payment.

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