What is ordinary annuity?

Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
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What is ordinary annuity?

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Ordinary annuity:

An ordinary annuity is a sequence of equivalent payments made at last of successive periods through a fixed distance of time. Whereas the payments in an ordinary annuity might be made as regularly as each week, in practice, they are usually made once-a-month, three-monthly, semi-annually, or yearly.

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