1. True/False: When solving for the present value of an annuity, all cash flows are discounted.

2. True/False: Other things equal, the PV of an annuity due > the PV of an ordinary annuity.

3. True/False: Mortgage payments are an example of an ordinary annuity

4. True/False: In an amortization schedule, annual interest expense increases from one year to the next.

5. True/False: If you save $100 annually for 30 years and earn 4%, your future value < $6000