# An ordinary annuity and an annuity due have the same present value, n, and i. Which annuity

## Question:

i. Which annuity has the smaller payment? Give the reason for your answer.

Annuity

An annuity is a series of equal payment made at equal intervals during a period of time. In other words annuity is a contract between insurer and insurance company in which insurer make a lump-sum payment or a series of payment and, in return,...

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