Which one of the following is a correct definition?
A) A perpetuity is an infinite stream of unequal payments.
B) An ordinary annuity is a stream of equal payments which occur at the end of each time period.
C) An annuity due is a stream of unequal payments which occur at the beginning of each time period.
D) An ordinary annuity is an infinite stream of equal payments which occur at the end of each time period.
E) A perpetuity is a series of equal payments which occur in even time intervals over a limited period of time.
Correct Answer:
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