Models of loan amortization under annual variable annuities
Keywords:models of amortization of loan; variable annuity wich are paid m times in year; nominal annual rate of interest compounded m times in year; annual eﬀective rate of interest
This paper presents models of annuity which either increase or decrease a fxed factor q and which are paid m times in year. The payments (annuity) increase (decrease) in such a way that
- a) each payment in the year is equal but each payment in the next year is q times than the payment in previous years and
- b) each payment in the k years is equal but each payment in the next k years is q times than the payment in previous k years.
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