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

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

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Engineering Economics
A construction estimate is used

To produce a statement of the approximate cost
To judge tentatively or approximate value of the project
To decide an approximation of the value of the project and not the exact cost
None of these

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