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7 Cards in this Set
- Front
- Back
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Annuity
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A level stream of cash flows for a fixed period of time.
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Annuity Due
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An annuity for which the cash flows occur at the beginning of the period.
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Perpetuity
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An annuity in which the cash flows continue forever.
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Consol
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A type of perpetuity.
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Stated Interest Rate
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The interest rate expressed in terms of the interest payment made each period. Also known as the quoted interest rate.
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Effective Interest Rate (EAR)
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The interest rate expressed as if it were compounded once per year.
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Annual Percentage Rate (APR)
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The interest rate charged per period multiplied by the number of periods per year.
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