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Which an ordinary annuity is best defined as

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Problem 1: An ordinary annuity is best defined as?

Option 1: equal payments that occur at set intervals for an unlimited period of time.
Option 2: increasing payments paid forever.
Option 3: increasing payments paid for a definitive period of time.
Option 4: equal payments paid at the end of regular intervals over a stated time period.
Option 5: equal payments paid at the beginning of regular intervals for a limited time period.

Reference no: EM132949373

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