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) __________ for the landlord.

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