Which of the following statement is true? a) An ordinary annuity is an annuity in which the cash flow occurs at the start of each period b) None of the above c) A deferred annuity is an annuity in...

Which of the following statement is true?

a) An ordinary annuity is an annuity in which the cash flow occurs at the start of each period

b) None of the above

c) A deferred annuity is an annuity in which the first cash flow occurs at the end of the time period between each subsequent cash flow

d) with a credit foncier loan ( a loan for a fixed period with regular repayments) as time passes a smaller proportion of each repayment goes to paying off the interest on the loan