Engineering Economics
The true value of interest rate computed by equations for compound interest for a 1 year period is known as ______.

Nominal interest
Economic return
Expected return
Effective interest

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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 first payment is made at the beginning of the first period.
The payments are made at equal interval of time.

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