TIME VALUE OF MONEY QUIZ

An annuity due has the payments made at the beginning of each period. An ordinary annuity has the payments made at the end of each period. All annuities have the payments made in the middle of the payment period. Annuity tables usually found in finance texts provide annuity interest rate factors for ordinary annuity streams. 7. If you invest $1,000 for 3 years at 7% simple interest, how much ... ................
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