Calculate the annual cash flows of a $500,000, 12-year fixed-payment deferred annuity earning a guaranteed 5 percent per year if annual payments are to begin at the end of year 4.

A collective membership mark identifies different products in the same product line of an organization

Indicate whether the statement is true or false

(I) The coupon rate is the rate of interest that the issuer of the bond must pay

(II) The coupon rate is usually fixed for the duration of the bond and does not fluctuate with market interest rates. A) (I) is true, (II) false. B) (I) is false, (II) true. C) Both are true. D) Both are false.