For the same n, PMT, and i, is the present value of a deferred annuity larger or smaller than the present value of an ordinary annuity Explain ...

The present value of the deferred annuity is sma ...

For the same n, PMT, and i, is the present value of a deferred annuity larger or

Question:

For the same n, PMT, and i, is the present value of a deferred larger or smaller than the present value of an ordinary Explain.
Annuity
An annuity is a series of equal payment made at equal intervals during a period of time. In other words annuity is a contract between insurer and insurance company in which insurer make a lump-sum payment or a series of payment and, in return,...