Posted by Jp on Saturday, January 5, 2013 at 5:27pm.
Simple interest pays the same rate every year on only the initial amount invested.
Compound interest pays on the accumulated interest as well as the original investment.
http://www.basic-mathematics.com/simple-vs-compound-interest.html
An annuity is designed to pay the holder a fixed amount of money in regular payments.
http://www.investopedia.com/terms/a/annuity.asp#axzz2H8vy1uYv
thanks ms. sue:-)
You're welcome, Jp.