Which of these answers best describes an annuity due?

Select one:

a.

A series of constant, equal, periodic cash flows extending for a specified time into the future, with the cash flows occurring at the beginning of each period

b.

A series of constant, equal, periodic cash flows extending indefinitely into the future, with the cash flows occurring at the start of each period

c.

A series of constant, equal, periodic cash flows extending for a specified time into the future, with the cash flows occurring at the end of each period

d.

A series of constant, equal, periodic cash flows extending indefinitely into the future, with the cash flows occurring at the end of each period