The present value of a deferred annuity (e.g., an annuity that starts
The present value of a deferred annuity (e.g., an annuity that starts 10 years from today) can be
calculated in two steps: (1 ) calculate the future value of the annuity, and (2 ) calculate the present
value of the amount determined in step (1 ).
Indicate whether the statement is true or false
ANSWER
TRUE
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