Asked 9/23/2010
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types of annuities An annuity in which payments are made at the beginning of each period is a? |
Answer 1/2 - Submitted 9/29/2010
Answer 2/2 - Submitted 8/21/2011
This is not a type of annuity, but a method of distribution for an annuity. The payments refer to payments received by the annuitant as opposed to contributions made. Where payments are received at the beginning of each payment period (as opposed to the end of each period), it is known as the "Annuity Due" or "due annuity." The "ordinary annuity" refers to payments being received at the end of each period. It is called ordinary because this is the common arrangement for annuities.
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