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Which one of the following best defines an annuity? a) A stream of decreasing payments occurring at regular intervals for a fixed period of time
Which one of the following best defines an annuity?
a) A stream of decreasing payments occurring at regular intervals for a fixed period of time
b) A level stream of payments occurring at equal time intervals
c) A series of equal payments occurring at random intervals over a fixed period of time
d) A stream of increasing annual dividend payments over an infinite period of time
e) A level stream of payments occurring at random intervals for an infinite period of time.
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