If a Series of Equal Payments Is Received Regularly at the End

Multiple Choice

If a series of equal payments is received regularly at the end of the year, and each is deposited immediately at the same interest rate, the ____ is the sum of all the payments and all the interest earned at the end of the series.

A) future value of an annuity due
B) present value of an annuity due
C) future value of an ordinary annuity
D) present value of an ordinary annuity
E) none of the above