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Annuity
A finite series of equal payments at equal intervals of time. In an ordinary annuity the payments occur at the ends of the time periods. In an annuity due, they occur at the beginnings.
Discounted Value
The present value of a future amount of money or a series of cash flows, adjusted for time value of money.
Annuity
A financial product that pays out a fixed stream of payments to an individual, usually used as an income stream in retirement.
Present Value
The immediate value of a prospective amount of money or cash flow series, determined by a specific rate of return.
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