Question
An ordinary annuity is characterised by: a. a series of cash flows that are identical in amount and occur at the end of consecutive time
An ordinary annuity is characterised by:
| a. | a series of cash flows that are identical in amount and occur at the end of consecutive time periods over a finite period of time. | |
| b. | a series of cash flows that are identical in amount and occur at the start of consecutive time periods over a finite period of time. | |
| c. | None of the answers are correct. | |
| d. | a series of cash flows that are identical in amount and occur at the end of consecutive time periods over an infinite period of time. | |
| e. | a series of cash flows that grow at a constant rate and occur at the end of consecutive time periods over an infinite period of time. |
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Fundamentals Of Investing
Authors: Scott B. Smart, Lawrence J. Gitman, Michael D. Joehnk
14th Edition
0135175216, 978-0135175217
