Engineering Economics
In a cash-flow diagram:

A vertical arrow pointing up indicates a positive cash flow
Time 1 is considered to be the end of time period 1
Time 0 is considered to be the present
All of these

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Engineering Economics
Which is NOT an essential element of an ordinary annuity?

The amounts of all payments are equal.
The payments are made at equal interval of time.
Compound interest is paid on all amounts in the annuity.
The first payment is made at the beginning of the first period.

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