9. By definition, what type of annuity best describes payments such as rent and magazine subscriptions (assuming the costs do not change over time a. ordinary annuity b. annuity due c. nonconstant annuity d. annuity in arrears 10. What is the term used to describe an annuity with an infinite life? a. perpetuity b. infinuity c. infinity due d. There is no special term for an infinite annuity. 11. All else equal, if you expect to receive a certain amount in the future, say, $500 in ten (100 years, the present value of that future amount will be lowest if the interest earned on such investments is compounded a. daily b. weekly monthly d. quarterly 12. You plan to invest an amount of money in five-year certificate of deposit (CD) at your bank. The stated interest rate applied to the CD is 12 percent, compounded monthly. How much must you invest ifyou want the balance in the CD account to be $8,500 in five years? a. $4,678.82 b. $4,823.13 c. $13,600.00 d. $14,979.90