con 49 John has to pay $1,000 per month for his mortgage for another 5 years, but he is considering paying the mortgage off in one lump sum. John cannot calculate the present value of the payments using the annuity formulas because his payments are monthly and not once per year. red d out of Select one: O True a question O False 150 The future value of a 10-year ordinary annuity is twice as much as the future value of an otherwise identical 5-year annuity. d out of Select one: question O True False