Engineering Economics
In a cash flow series:

The gradient in the cash flow may be positive or negative
Either an increase or decrease in the amount of a cash flow is called the gradient
Uniform gradient signifies that an income or disbursement changes by the same amount in each interest period
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.
Compound interest is paid on all amounts in the annuity.
The payments are made at equal interval of time.
The first payment is made at the beginning of the first period.

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