both queations

5. The payment or receipt of equal amounts, at the end of a series of equal periods, for a specified amount of time is called a(n) a. simple interest b. annuity due c. ordinary annuity d. Perpetuity 6. When you purchased a car, you borrowed $20,000 from the bank and agreed to make monthly payments of $423.17 for 5 years. What rate of interest is the bank charging you? a. 9.82% b. 5.00% c. 25.39% d. 10.00% Page 2 of 12