A(n) __________ is a series of equal payments (or receipts) that occur over a number of time periods.
A) ordinary annuity
B) loan amortization
C) annuity
D) annuity due

Question

Quizplus · Accepted Answer

An annuity is a series of equal payments (or receipts) that occur over a number of time periods. An ordinary annuity is paid or received at the end of each time period, while an annuity due is paid or received at the beginning of each time period. Loan amortization refers specifically to the process of paying off a loan with equal payments over time.

A(n) __________ Is a Series of Equal Payments (Or Receipts)