A financial plan is an informal report that analyzes past financial decisions. a) True b) False Inflation is most harmful to people with incomes expected to increase. a) True b) False Interest earned is calculated by multiplying the principle times the opportunity cost. a) True b) False Risks associated with most financial decisions are easy to measure. a) True b) False When prices are increasing at a rate of 6 percent, the cost of products would double in about 12 years. a) True b) False