Answer:

Recurring payments, such as the rent on an apartment or interest on a bond, are sometimes referred to as "annuities."

In ordinary annuities, payments are made at the end of each period. With annuities due, they're made at the beginning of the period.

The future value of an annuity is the total value of payments at a specific point in time.

The present value is how much money would be required now to produce those future payments.

Step-by-step explanation:

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