What is the type of annuity where the first payment does not begin until some later date in the cash flow ?
A. Ordinary annuity
B. Perpetuity
C. Annuity due
D. Deferred annuity
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A. Bond
B. T-bills
C. Stock
D. Promissory note
Which is NOT an essential element of an ordinary annuity ?
A. The amounts of all payments are equal.
B. The payments are made at equal interval of time.
C. The first payment is made at the beginning of the first period.
D. Compound interest is paid on all amounts in the annuity.
A. Ordinary annuity
B. Perpetuity
C. Annuity due
D. Deferred annuity
A. T-bills
B. Securities
C. Bond
D. Bank notes
A. Ordinary annuity
B. Perpetuity
C. Annuity due
D. Deferred annuity