John Cashed in an Annuity Contract and Received $10,000

question 34

True/False

John cashed in an annuity contract and received $10,000.John bought the contract 24 years ago for $5,000.These amounts indicate a contract rate of approximately 3%.

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Definitions:

Cultural Personality

The collective psychological traits, behaviors, and characteristics shared by members of a specific culture or society.

Individualistic

Emphasizing the importance or centrality of the individual and his or her rights and independence above all else.

Heritability of Traits

The proportion of variation in traits among individuals in a population that can be attributed to genetic differences.

Genetic Differences

Variations in the genes among individuals or populations, which contribute to the biological diversity.