The present value of an annuity equals -

A. Payment/i, where i is the appropriate discount rate.

B. the sum of the payments divided by the number of payments.

C. the average payment divided by 1 plus the appropriate discount rate.

D. the sum of the present values of the individual payments.

Loan amortization schedules reveal-

A. how the interest paid per period increases over time.

B. only the principal balance paid per period.

C. how the proportion of the payment that pays down the principal increases over time.

D. how the payment changes over time.