Indicate which of the following is TRUE about annuities.
◦ An ordinary annuity is an equal payment paid or received at the beginning of each period.
◦ An annuity due is a payment paid or received at the beginning of each period, that increases by an equal amount each period.
◦ An annuity due is an equal payment paid or received at the beginning of each period.
◦ An ordinary annuity is an equal payment paid or received at the end of each period that increases by an equal amount each period.