Question

1._______________ are essentially a series or fixed payments required from you or paid to you at a specified frequency over the course of a fixed time period.
a.Annuities
b.percentage interest
c.simple interest
d.compound interest

2.If the original principal is p Naira and if the interest is compounded annually at the rate of r per year, then at the end of the first year the new principal will be …
a.\\(P(1+r)^{2}\\)
b.P(1+rn)
c.p(1+r)
d.P+r

Answer 1

1. a. Annuities

2. c. p(1+r)