Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 10QTD
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Question
What is ordinary
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Step 1
Ordinary annuity:
An ordinary annuity is a sequence of equivalent payments made at last of successive periods through a fixed distance of time. Whereas the payments in an ordinary annuity might be made as regularly as each week, in practice, they are usually made once-a-month, three-monthly, semi-annually, or yearly.
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