15. Which statement(s) are correct? 1), Present value is larger the shorter the time period (2), Present value is larger the smaller the interest rate |3), Future value increase with the time period |4), Future value decreases with the interest rate A) 1 and 2 B) 1 and 3 C) 1,2 and 3 D) All of them 16. Auto Loans R Them loans you $24,000 for four years to buy a car. The loan must be repaid in 48 equal monthly payments. The annual interest rate on the loan is 9 percent. What is the monthly payment? A) $500.92 B) $543.79 C) $563.82 D) $597.24