An ordinary annuity refers to a series of equal payments made or received at the end of equal intervals.

Name: An ordinary annuity refers to a series of equal payments made or received at the end of equal intervals.
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An ordinary annuity is defined as a series of equal payments made or received at the end of equal intervals. This distinguishes it from an annuity due, where the payments are made or received at the beginning of each interval.

An Ordinary Annuity Refers to a Series of Equal Payments