An annuity is a stream f: b. equal cash flows occurring at equal time periods forevex. c. either equal or varying cash flows occurring at set intervals of time for a fixed length of time. d. increasing cash flows occurring at set intervals of time that go on forever. Question 2: For any given interest rate, compounding will yield the highest effective annual rale a. annual b. monthly c. daily d. continuous Question 3: How long does it take $1000 to grow to $1600 if the interest rate is 10% p.a. compounded annually? (Round your final answer to two decimal places). a. 5.51 years b. 4.93 years c. 6.32 years d.) 7.45 years