F. Ernest Jerome
| Annuity | A series of equal payments at regular intervals.
(See page 380.)
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| Deferred annuity | An annuity where the start of the periodic payments is delayed by more than one payment interval.
(See page 406.)
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| Future value of an annuity | The single amount, at the end of the annuity, that is economically equivalent to the annuity.
(See page 381.)
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| General annuity | An annuity in which the payment interval does not equal the compounding interval.
(See page 380.)
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| Ordinary annuity | An annuity in which the payments are made at the end of each payment interval.
(See page 380.)
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| Ordinary general annuity | An annuity in which the payment interval does not equal the compounding interval, and payments are made at the end of each payment interval.
(See page 381.)
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| Ordinary simple annuity | An annuity in which the payment interval equals the compounding interval, and payments are made at the end of each payment interval.
(See page 381.)
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| Payment interval | The length of time between successive payments in an annuity.
(See page 380.)
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| Period of deferral | The time interval until the beginning of the first payment interval in a deferred annuity.
(See page 406.)
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| Present value of an annuity | The single amount, at the beginning of the annuity, that is economically equivalent to the annuity.
(See page 391.)
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| Simple annuity | An annuity in which the payment interval equals the compounding interval.
(See page 380.)
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| Terms of an annuity | The total time from the beginning of the first payment interval t the end of the last payment interval.
(See page 380.)
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2003 McGraw-Hill Higher Education