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Which of the following statements is CORRECT? A . The cash flows for an annuity may occur at irregular intervals, as long as the amount
Which of the following statements is CORRECT?
A The cash flows for an annuity may occur at irregular intervals, as long as the amount is always the same.
B If a series of unequal cash flows occurs at regular intervals, such as once a year, then the series is by definition an annuity.
C The cash flows for an ordinary annuity may occur at the beginning of the periods, as long as the amount is always the same.
D The cash flows for an ordinary annuity all occur at the end of the period.
E The cash flows for an annuity due must all occur at the end of the period.
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