The Return Provided by a $100 Annuity Deposited for 10

question 47

True/False

The return provided by a $100 annuity deposited for 10 years that results in a future value of $1,593.74 is 10%.

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Definitions:

Alfred Binet

A French psychologist who made significant contributions to intelligence testing and developed the first practical IQ test.

Mental Age

A measure of an individual's cognitive abilities expressed in terms of the average age at which a normal individual reaches the same level of ability.

Reasoning Skills

The ability to think, conclude, and apply logical processes to solve problems, make decisions, and understand complex concepts.

WAIS

The Wechsler Adult Intelligence Scale, a standardized test designed to measure adult intelligence and cognitive ability.