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Briefly describe what each of the following terms mean: 1. Annuity 2. Balloon payment 3. Compound interest 4. Discount rate (not Federal Reserve definition) 5.

Briefly describe what each of the following terms mean:

1. Annuity

2. Balloon payment

3. Compound interest

4. Discount rate (not Federal Reserve definition)

5. Future value

6. Future value factor

7. Hurdle rate

8. Installment loan

9. Present value

10. Present value factor

11. Simple interest

12. Time value of money

13. Weighted average cost of capital (WACC)

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