Читать книгу Fundamentals of Financial Instruments - Sunil K. Parameswaran - Страница 109

The difference between an annuity and an annuity due is that in the case of an annuity due the cash flows occur at the beginning of the period. An N period annuity due that makes periodic payments of $A may be depicted as follows

FIGURE 2.2 Timeline for an Annuity Due