Which is the best definition of an "annuity"? Select one: A. The interest rate expressed...
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Finance
Which is the best definition of an "annuity"? Select one:
A. The interest rate expressed in terms of the interest payment made each period. Also, quoted interest rate
B. The interest rate expressed as if it were compounded once per year.
C. A level stream of cash flows for a fixed period of time.
D. An annuity for which the cash flows occur at the beginning of the period.
E. The interest rate charged per period multiplied by the number of periods per year.
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