Annuities are a series of constant cash flows that have been received over a certain period of time. However, not all annuities are created equal. Some annuities adjust the payments based on certain macroeconomic factors. Based on your understanding of growing annuities, is the statement below true or false? To qualify as a growing annuity, the growth rate in each period has to be the same as the growth rate in the prior period. False True You invested in an aggressive growth fund and expect to earn 16.96% annually over the next five years. However, due to strong growth, inflation is expected to be 8.40%. What should be your expected real rate of return? 5.93% 9.48% 8.69% 7.90%