Answer: A series of equal cash flows that occur at the end of each of the equally spaced intervals. (Days months years)
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Annuity | Definition of Annuity by Merriam-Webster
An ordinary annuity is a series of equal payments made at the end of consecutive periods over a fixed length of time. While the payments in an annuity can be made as frequently as every week in practice ordinary annuity payments are made monthly quarterly semi-annually or annually.
Wed Dec 12 2018 · An ordinary annuity is a series of payments having the following three characteristics: All payments are in the same amount (such as a series of payments of $1 000). All payments are made at the same intervals of time (such as once a month or quarter over a period of a year).
Ordinary Annuity . An ordinary annuity calls for payment at the end of each interval. If the annuity calls for three payments over three years the first payment comes due at the end of the first year. The last payment whic...
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