The Future Amount of an Annuity Is Calculated by Multiplying

question 5

True/False

The future amount of an annuity is calculated by multiplying the present value of the annuity by its applicable factor from a table.

---

Definitions:

Personal Experience

An individual’s direct observation or participation in events, forming the basis for knowledge, attitudes, or beliefs.

Inherited

The transfer of physical, genetic, or characteristic traits from parents to offspring through genes.

Innate

Qualities, abilities, or knowledge that are inborn or present naturally rather than acquired.

School

A school is an institution designed for the instruction and education of students under the direction of teachers.