Engineering Economics
What refers to the cumulative effect of elapsed time on the money value of an event, based on the earning power of equivalent invested funds capital should or will earn?

Time value of money
Present worth factor
Yield
Interest rate

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

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.
The amounts of all payments are equal.

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