问题
单项选择题
Evelyn Mastakis, CFA, is a quantitative analyst in a local securities firm and does research about the difference between ordinary annuity and annuitydue. If both have the same number of payments, payment amount, and frequency of payments and are discounted at the same positive rate, the present value of the ordinary annuity is:（）
A. greater than the present value of the annuity due.
B. less than the present value of the annuity due.
C. equal to the present value of the annuity due.
答案
参考答案：B
解析：
普通年金(ordinary annuity)发生在每期期末，到期年金(annuity due)发生在每期期初，考虑到货币的时间价值，所以当年金的期数、金额和频率相等的情况下，发生在期末的普通年金的净现值要小于发生在期初的到期年金的净现值。
