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A series of cash flows may not always necessarily be an annuity. Cash flows can also be uneven concept of the time value of money

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A series of cash flows may not always necessarily be an annuity. Cash flows can also be uneven concept of the time value of money applies to uneven cash flows as well. Consider the following case Anky Beverage Co. expects the following cash flows from its manufacturing plant in Palau over the next five Year

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