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1. An amortized loan is generally structured to provide constant payments each of which contains the same proportions of interest and principal repayment.
True
False
2. An annuity is a series of equal payments separated by equal time intervals.
3. An annuity is a finite stream of equal payments occurring at regular or irregular time intervals
4. The future and present value factors are reciprocals. Either amount equation can be used to solve any amount problem.
5. FVFk,n is always greater than 1, whereas PVFk,n is always less than –1.
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