What Is Chronological Age

question 43

Multiple Choice

What is chronological age?

• A)retirement age,whenever it occurs
• B)65 years of age and over
• C)the number of years a person has lived
• D)the age disability sets in

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Definitions:

Net Present Value

A financial metric that calculates the value of a series of cash flows by discounting them to their present value using a specific rate.

Discount Rates

The interest rate that the Federal Reserve or a central bank charges depository institutions on loans they receive, or more broadly, the interest rate used to discount future cash flows to their present value.

Initial Purchase Price

The amount paid to buy a good or service for the first time, not including additional costs like maintenance or insurance.

Present Value

is a financial concept that calculates the current worth of an amount of money that is to be received in the future, taking into account a specific rate of interest.