A series of equal periodic payments is referred to as:
A)The time value of money.
B)An annuity.
C)The future value.
D)Interest.

Question

Quizplus · Accepted Answer

An annuity is a series of equal periodic payments. The time value of money refers to the concept that money available today is worth more than the same amount of money in the future due to its earning potential. The future value is the amount of money that an investment will be worth at some future point in time. Interest is the cost of borrowing money.

A Series of Equal Periodic Payments Is Referred to As