what is a annuity payment
An annuity is a series of equal payments made at fixed intervals of time. Examples of annuities are regular deposits to a savings account, monthly home mortgage payments, monthly insurance payments and pension payments.uture value is linear in the amount of payments, therefore the future value for payments, or rent is: Example: The present value of a 5 year annuity with nominal annual interest rate 12% and monthly payments of $100 is: