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Anything but Ordinary: Calculating the Present and Future Value of Annuities
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Anything but Ordinary: Calculating the Present and Future Value of Annuities At some point in your life you may have had to make a series of fixed payments over a period of time--such as rent or car payments--or have received a series of payments over a period of time, such as bond coupons. These are called annuities. If you understand the time value of money and have an understanding of future and present value (which you can read about in the article "Understanding the Time Value of Money") you're ready to learn about annuities and how their present and future values are calculated. What Are Annuities? Annuities are essentially series of fixed payments required from you or paid to you at a specified frequency over the course of a fixed period of time. The most common payment frequencies are yearly (once a year), semi-annually (twice a year), quarterly (four times a...
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