| Flap 1 |
Flap 2 |
| Future value interest factor | a factor multiplied by today’s savings to determine how the savings will accumulate over time |
| Annuity | a series of equal cash flow payments that are received or paid at equal intervals in time |
| Compounding | the process of earning interest on interest |
| Present value interest Factor | a factor multiplied by a future value to determine the present value of that amount |
| Discounting | the process of obtaining present values |
| Timelines | diagrams that show payments received or paid over time |
| Annuity due | a series of equal cash flow payments that occur at the beginning of each period |
