Ibiza Corporation Invested $20,000 for the Last Four Years in an Investment

question 26

Multiple Choice

Ibiza Corporation invested $20,000 for the last four years in an investment that will pay the firm $120,000 at the end of this year. The $120,000 received at the end of this year is an example of a(n) _____. 

• A)uneven cash flow
• B)annuity due
• C)ordinary annuity
• D)deferred annuity
• E)lump-sum amount

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