Downward mobility is not possible is the U.S. social class system

You are comparing three investments, all of which pay $100 a month and have an interest rate of 8%. One is ordinary annuity, one is an annuity due, and the third investment is a perpetuity. Which one of the following statements is correct given these three investment options?

a. To be the perpetuity, the payments must occur on the first day of each monthly period b. the ordinary annuity would be more valuable than the annuity due if both had a life of 10 years c. The present value of the perpetuity has to be higher than the present value of either the ordinary annuity or the annuity due d. the future value of all three investments must be equal e. the present value of all three investments must be equal

What is the key difference between an agreement and a contract?

A) A contract is always enforceable in the court of law, while an acceptance may or may not be. B) A contract can only be between two individuals, while an acceptance can have two or more people involved. C) A contract requires mutual assent from all parties, while an acceptance needs only to be accepted by a majority of people involved. D) A contract need not be legally binding, while an agreement must be legally binding.