Annuity

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Annuity is a series of payments of a fixed amount for a specified number of periods.


Definitions

According to Financial Management Theory and Practice by Eugene F. Brigham and Michael C. Ehrhardt (13th edition),

Annuity. A series of payments of a fixed amount for a specified number of periods.

According to Fundamentals of Financial Management by Eugene F. Brigham and Joel F. Houston (15th edition),

Annuity. A series of equal payments at fixed intervals for a specified number of periods.

According to Managerial Accounting by Braun, Tietz (5th edition),

Annuity. A stream of equal installments made at equal time intervals.

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