State whether the problem relates to an ordinary annuity or an annuity due. Jane Adele deposits $600 in an account at the beginning of each 3-month period for 10 years. If the account pays interest at the annual rate of 6%, compounded quarterly, how much will she have in her account after 10 years?
A)ordinary annuity
B)annuity due

Question

State whether the problem relates to an ordinary annuity or an annuity due. Jane Adele deposits $600 in an account at the beginning of each 3-month period for 10 years. If the account pays interest at the annual rate of 6%, compounded quarterly, how much will she have in her account after 10 years? ​
A)ordinary annuity
B)annuity due

Quizplus · Accepted Answer

This is an annuity due because the deposits are made at the beginning of each 3-month period.

State Whether the Problem Relates to an Ordinary Annuity or an Annuity