18. An annuity may best be defined as A. A payment at a fixed interest rate B. A series of payments of unequal value C. A series of annual payments, regardless of amount D. A series of consecutive payments of equal amounts 19. As the interest rate increases, the present value A. Increases B. Decreases C. Remains the same D. Not enough information is given to determine 20. If $1,000 was deposited in a bank at 6% interest per year for the next 10 years, which table would be used to find the ending balance in the account? A. Present value of $1 B. Future value of $1 C. Present value of an annuity of $1 D. Future value of an annuity of $1 21. The investment banker may advise clients on a continuing basis about: A. The types of securities being sold B. The number of shares for distribution C. The timing of the sale D. All of the above options are correct 22. When investment bankers act in the function of "underwriters", they A. Give a "firm commitment" to purchase the securities from the corporation at a set price B. Guarantee that the company will not suffer a decline in earnings after taxes C. Are allowed to sell as many securities as possible and return the rest unsold D. Are allowed to give advice to the company's management