Instrument A is the first photo and Instrument B is the second photo

U JU A B c D E F G Annual payments (at the beginning) Year Annual payoff ($) Annual rate of return (%) 1 2 3 4 5 6 7 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 9 10 11 12 13 14 15 16 17 18 19 $107,960 $107,960 $107,960 $107,960 $107,960 $107,960 $0 $0 $0 $0 SO $0 $0 SO SO SO SO $0 $0 $0 Accumulated payments (at the beginning) $107,960 $215,920 $323,880 $431,840 $S39,800 $647,760 $647,760 $647,760 $647,760 $647.760 $647,760 $647.760 $647,760 $647,760 $647,760 $647,760 $647,760 $647,760 $647,760 $647.760 Guaranteed total payoff (at the end) $53,667 $144,188 $237,307 $333,083 $431,606 $700,040 $718,941 $738,352 $758,288 $778,762 $799,788 $821,383 $843,569 $866,336 $889,727 $913,750 $938,421 $963,758 $989,780 $1,016,504 $54,293) ($17,439) ($14,841) ($12,184) ($9,437) $160,474 $18,901 $19,411 $19,936 $20,474 $21,026 $21,595 $22,186 $22,767 $23,391 $24,023 $24,671 $25,337 $26,022 $26,724 -50.29% -16.15% - 13.75% - 11.29% -8.74% 148.64% 2.70% 2.70% 2.70% 2.70% 2.70% 2.70% 2.70% 2.70% 2.70% 2.70% 2.70% 2.70% 2.70% 2.70% 20 Hoja1 + 23 Year 24 25 1 26 2 Annual rate of return (%) 2.00% 2.00% 2.00% 2.00% 27 3 4 5 2.00% 28 29 30 31 32 6 7 8 9 Annual payments Accumulated payments (at the beginning) (at the beginning) $107,960 $107,960 $107,960 $215,920 $107,960 $323,880 $107,960 $431,840 $107,960 $539,800 $107,960 $647,760 $0 $647,760 $0 $647,760 $0 $647,760 $0 $647,760 $0 $647,760 $0 $647,760 $0 $647,760 $0 $647,760 $0 $647,760 $0 $647,760 $0 $647,760 $0 $647,760 SO $647,760 $0 $647,760 33 34 Guaranteed total payoff (at the end) $110,119 $222,441 $337,009 $453,868 $573,065 $694,645 $708,538 $722,709 $737,163 $751,907 $766,945 $782,284 $797,929 $813,888 $830,166 $846,769 $863,704 $880,978 $898,598 $916,570 2.00% 2.00% 2.00% 2.00% 2.00% Annual payoff ($) $2,159 $4,362 $6,608 $8,899 $11,237 $13,620 $13,893 $14,171 $14,454 $14,743 $15,038 $15,339 $15,646 $15,959 $16,278 $16,603 $16,935 $17,274 $17,620 $17,972 10 11 35 36 37 38 39 12 13 2.00% 2.00% 2.00% 2.00% 14 15 16 40 41 17 42 18 2.00% 2.00% 2.00% 2.0096 2.00% 2.00% 43 19 44 20 Hoist Questions: 1. When will instrument A have a greater guaranteed total payoff than instrument B? 2. Who do you think will be the target investors for each financial instrument? (In terms of their purposes, expectations, characteristics, etc.) 3. What is the name of each financial instrument likely referred to as? 4. Please find a similar product from the current financial market for each financial instrument. State the name of the product and its annual rate of return