(e)
CCD2
The equation can be rewritten using a single sum and the concept of flows (Ak), which can be positive or negative, in other words either paid or received during periods 1 to n, expressed in years, i.e.: , where S is the present balance of flows. If the aim is to maintain the equivalence of flows, the value of S will be zero.
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Source: EUR-Lex CELLAR · retrieved 2026-07-30 · Text as adopted (Official Journal); later amendments are not incorporated in this text.