5) The concept of time value of money is important to financial decision making because a it emphasizes earning a return on invested capital b. it recognizes that earning a return makes $1 worth more today than $1 received in the future. c. it can be applied to future cash flows in order to compare different streams of income. d. all of the above 6) An annuity may be defined as a payment at a fixed interest rate. a series of payments of unequal amount. a series of yearly payments. d a finite series of consecutive payments of equal amounts. doo 7) The value of a bond is also called its face value. Bonds which sell at less than face value are priced at a while bonds which sell at greater than face value sell at a a discount, par, premium. b. premium, discount; par. c. par, discount, premium d. coupon; premium; discount. 8) A bond that pays no annual interest but is sold at a discount below its par value is called a Mortgage bond b. Callable bond. c. Convertible bond. d. Zero coupon bond. araholders as or can be