Identify the type of annuity according to duration, payment interval and interest period, and time of payment. Suppose your parents decided to give you P150,000 to be put in a college trust fund that will be paid equally at the beginning of every 3 months installments over a 5-year period. If they deposited the money into an account paying 1.5% per quarter, how much will you receive per interval? Experts say that the baby boom generation (born 1946-1960) cannot count on a company pension or Social Security benefits to provide a comfortable retirement. It is recommended that they start to save regularly and early. Michael, a baby boomer, has decided to deposit P2000 each month in an account that pays 7.2% compounded monthly for 20 years. According to Duration According to payment interval and interest period According to time of payment