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Unformatted text preview: as the frequency of the compounding. Periodic payments are made to meet some future obligation (college savings plan). Sinking Fund and Amortization Amortization Periodic payments are made to dispose of a present obligation (car loan). Ordinary Annuity: Term Payment Period The time between payments. The time from the beginning of the first pay period to the end of the last pay period. Present Value of an Annuity Future Value of the Annuity The sum of the compound amounts of all the payments, compounded to the end of the term (the final sum on deposit). The amount that would have to be deposited in one lump sum today (at the same compound interest rate) in order to produce the same balance at the end of t years....
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This note was uploaded on 08/30/2011 for the course ECO 3401 taught by Professor Staff during the Spring '08 term at University of Central Florida.
 Spring '08
 Staff

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