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Explain between ordinary annuity vs and annuity in advance

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Problem 1: Suppose you have an annuity consisting of three cash flows of $1,000 each. Briefly explain the difference between an Ordinary Annuity and an Annuity in Advance, giving a simple example of each using timelines labeled with the series of three cash flows of $1,000.

Reference no: EM132743109

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