PART 3 - Annuities - SUMMARY 13 Choose the better option in each row. Use...
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PART 3 - Annuities - SUMMARY 13 Choose the better option in each row. Use your numbers from previous screens to fill in the table. Shorter term Longer term $ Difference in interest paid Less frequent payments More frequent payments 5 years vs 10 years Monthly vs Bi-weekly Smaller payments Larger payments $500 vs $1000 4% vs 8% Lower interest rate Higher interest rate Which factor makes the most difference according to our example? Doubling the Doubling the Doubling the amount of each frequency of Doubling the term length Interest rate payments payment PART 3 - Annuities - SUMMARY 13 Choose the better option in each row. Use your numbers from previous screens to fill in the table. Shorter term Longer term $ Difference in interest paid Less frequent payments More frequent payments 5 years vs 10 years Monthly vs Bi-weekly Smaller payments Larger payments $500 vs $1000 4% vs 8% Lower interest rate Higher interest rate Which factor makes the most difference according to our example? Doubling the Doubling the Doubling the amount of each frequency of Doubling the term length Interest rate payments payment
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