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(7.5) An annuity is a series of of cash flows that occur at - each period for some number of periods. When the payments occur

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(7.5) An annuity is a series of of cash flows that occur at - each period for some number of periods. When the payments occur at the end of the time period, the annuity is referred to as an - annuity form. If payments are at the beginning of the time period, we call the annuity an

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