单选题 An investor does research about net present value and gathers the information about two trust products with the same positive annual payments to investor. One is a 20-year ordinary annuity, and the other is a 10-year ordinary annuity. If the investor uses the same positive discount rate to analyze both products, the present value of the lO-year ordinary annuity is:
A. less than half the present value of the 20-year ordinary annuity.
B. equal to half the present value of the 20-year ordinary annuity.
C. greater than half the present value of the 20-year ordinary annuity.

【正确答案】 C
【答案解析】[解析] 10年的普通年金的现值要大于20年的普通年金的现值的一半,因为20年的普通年金的后10年的普通年金折现到第10年,虽然与前10年的普通年金的现值相等,但还需要再折现10年。