The Present Value of an Ordinary Annuity Is

The present value of an ordinary annuity is:

A) The amount that would be paid today in order to receive a series of unequal payments in the future
B) The amount that would be paid in the future in order to receive a series of unequal payments leading up to that point
C) The amount that would be paid in the future in order to receive a series of equal payments leading up to that point
D) The amount that would be paid today in order to receive a series of equal payments in the future
E) None of the above