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Trure/False 1-The present value of an annuity is equal to the sum of the individual future values for each payment. 2-The factor for the present

Trure/False

1-The present value of an annuity is equal to the sum of the individual future values for each payment.

2-The factor for the present value of an annuity at 8% for 10 years is 6.7101. This implies that an annuity of ten $15,000 payments at 8% yields a present value of $2,235.

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