What is the name given to a series of multiple, equal payments when each payments will occur at the end of its time period and when the payments are expected to occur forever?

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
ChapterM: Time Value Of Money Module
Section: Chapter Questions
Problem 23GI: What is a deferred ordinary annuity? How does it differ from one that is not deferred? Draw a time...
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What is the name given to a series of multiple, equal payments when each payments will occur at the end of its time period and when the payments are expected to occur forever?
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Annuity:

A series of payments paid at regular intervals is known as an annuity. Regular savings account deposits, mortgage payments, insurance premiums, and pension payments are all examples of annuities. Annuities can be categorised based on how frequently they are paid.

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