Susan Just Signed a Long-Term Lease on a Townhouse in New

Multiple Choice

Susan just signed a long-term lease on a townhouse in New York City (near Central Park) that requires her to make equal monthly payments for the next five years.The payments Susan has promised to make represent a(n)
the landlord.

A) ordinary annuity
B) annuity due
C) series of uneven cash flows
D) perpetuity