A series of equal periodic payments in which the first payment is made one compounding period after the date of the contract is D. an ordinary annuity.
An ordinary annuity is a series of regular payments made at the end of each period.
An example of an ordinary annuity is a payment made monthly, quarterly, or annually after the contract date. For example, stock dividends are made periodically after the investment date.
On the other hand, for an annuity due, payments are made at the beginning of each period. For example, monthly rent is paid in advance.
Thus, a series of equal periodic payments in which the first payment is made one compounding period after the date of the contract is D. an ordinary annuity.
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