At the beginning of the year, Matt's bank account had a balance of $4,589 and it stands at $4,612 today. Which one of the following statements must be FALSE when evaluat- ing the year-to-date growth in account value? Choose one of the following answers The present value is $4,612. The present value is $4,589. The number of days since the New Year's date is the time period involved. The interest rate on the bank account determines how fast the account value grows.