**Purpose**: (L.O. 1 thru 7) This exercise will quiz you about terminology used in this appendix.

At list of accounting terms with which you should be familiar appears below:

Annuity | Interest |

Compound interest | Present value |

Discounting the future amount(s) | Present value of an annuity |

Future value of a single amount | Principal |

Future value of an annuity | Simple interest |

**Instructions**

For each item below, enter in the blank the term that is described.

- _______________________________ The amount borrowed or invested.
- _______________________________ A series of equal dollar amounts to be paid or received at evenly spaced time intervals (periodically).
- _______________________________ Payment for the use of another's money.
- _______________________________ The interest computed on the principal only.
- _______________________________ The value at a future date of a given amount invested assuming compound interest.
- _______________________________ The sum of all the rents (payments or receipts) plus the compound interest on them.
- _______________________________ The value now of a given amount to be invested or received in the future assuming compound interest.
- _______________________________ A series of future receipts or payments discounted to their value now (today) assuming compound interest.
- _______________________________ The process of determining present value.
- _______________________________ The interest computed on the principal and any interest earned that has ...

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