If the first payment made by an annuity is today, that is an "ordinary annuity" and not an "annuity due."

Name: If the first payment made by an annuity is today, that is an "ordinary annuity" and not an "annuity due."
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An annuity where the first payment is made at the beginning of the period is called an "annuity due," not an "ordinary annuity." An ordinary annuity makes its first payment at the end of the period.

If the First Payment Made by an Annuity Is Today