1. There are two kinds of annuities. One is an ordinary annuity, which means the same amount of payment occurred at the end of each time period. The other is an annuity due, which means the same amount of payment occurred at the beginning of each time period. In the real world, what is the example of an ordinary annuity? What is the example of an annuity due? Which annuity is more common?

2. There are different ways to solve time value of money (TVM) problems. You can solve TVM problems by using (1) formulas or (2) Excel or (3) financial or graphing calculator's finance functions. Which way do you prefer? Why? Are the chapter materials helpful for you to learn the way you prefer?