题目6单选题
You plan to analyze the value of a potential investment by calculating the sum of the present values of its expected cash flows. Which of the following would lower the calculated value of the investmentA. The cash flows are in the form of a deferred annuity, and they total to $100,000. You learn that the annuity lasts for only 5 rather than 10 years, hence that each payment is for $20,000 rather than for $10,000B. The discount rate increasesC. The riskiness of the investment's cash flows decreasesD. The total amount of cash flows remains the same, but more of the cash flows are received in the earlier years and less are received in the later yearsE. The discount rate decreases
题目7单选题
Which of the following statements is CORRECTA. The cash flows for an ordinary (or deferred) annuity all occur at the beginning of the periodsB. If a series of unequal cash flows occurs at regular intervals, such as once a year, then the series is by definition an annuityC. The cash flows for an annuity due must all occur at the ends of the periodsD. The cash flows for an annuity must all be equal, and they must occur at regular intervals, such as once a year or once a monthE. If some cash flows occur at the beginning of the periods while others occur at the ends, then we have what the textbook defines as a variable annuity