1) A fixed sum of money paid to someone at regular intervals, subject to a fixed compound interest rate.It is the money lent specially for a business purpose. It may be used to start a business or to have a business expansion. a) ANNUITY b) PAYMENT INTERVAL 2) Payment made in an annuity. The time between the successive payments dates of an annuity.It is the money lent to an individual for personal or family purposes.Ex. monthly, quarterly, semi-annually or annually a) INTEREST PERIOD b) PAYMENT INTERVAL 3) fixed time chosen by a person who borrows money to pay the amount of money charged (interest) on the repayment of the debt. Just like payment intervals, interest period may be monthly, quarterly, semi-annually or annually. a) INTEREST PERIOD b) PAYMENT INTERVAL 4) An annuity where the payment interval is the same as the interest a) SIMPLE ANNUITY b) GENERAL ANNUITY 5) An annuity where the payment interval is not the same as the interest. a) SIMPLE ANNUITY b) GENERAL ANNUITY BUSINESS 6) An annuity in which the payments begin and end at definite time. a) ANNUITY CERTAIN b) CONTINGENT ANNUITYTERM

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