4. TRUE or FALSE: "As the number of compounding periods per year decreases (e.g., from monthly compounding to semi-annual compounding), the present value of future cash flows increases." a. True b. False 5. TRUE or FALSE: "The rate of return on any perpetuity is equal to its annual cash flow divided by its present value." a. True b. False 6. TRUE or FALSE: "The present value of a future sum of money decreases as the number of years before the payment is received increases." a. True b. False