Key Concepts Summary

11.1: Fundamentals of Annuities

• Understanding what an annuity is
• The four different types of annuities
• The difference between annuities and single payments
• The annuity timeline format

11.2: Future Value of Annuities

• The future value of ordinary annuities
• Variable changes in future value annuity calculations
• The future value of annuities due

11.3: Present Value of Annuities

• The present value of both ordinary annuities and annuities due
• Variable changes in present value annuity calculations
• Applying both future value and present value calculations to loans
• Determining loan balances
• Selling loan contracts between companies

11.4: Annuity Payment Amounts

• Calculating the annuity payment amount for both ordinary annuities and annuities due

11.5: Number of Annuity Payments

• Calculating the number of annuity payments (term) for both ordinary annuities and annuities due
• What to do when N has decimals

11.6: Annuity Interest Rates

• Calculating the interest rate for both ordinary annuities and annuities due