The present value of a four-year ordinary annuity for which the first payment is deferred for five years (not received until year six) is equal to the present value of a nine-year ordinary annuity minus the present value of a five-year ordinary annuity

Financial securities that represent a creditor relationship with another entity. Examples are U.S. government securities, municipal securities, corporate bonds, convertible debt, and commercial paper.

(a) debt securities (b) notional amount (c) arbitrageurs (d) controlling interest

Green Earth Marketing sells containers for temporary storage of recyclables nationally through its catalogue. The company wants to simplify pricing and reduce its risk. Green Earth also desires some type of difference in price due to distance. Which type of pricing should the company use?

a. freight absorption b. two-part c. flexible d. zone