Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Introduction,
The present value of an annuity due is the value today of a series of equal cash flows that occur at the beginning of each period for a fixed number of periods. An annuity due is different from an ordinary annuity because the cash flows occur at the beginning of each period, rather than at the end.
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