(II) True or False: Given a nominal annual interest rate (e.g. 10%/year), the higher the compounding frequency, the higher the compound interest that accumulates over a year.

(III) Two nominal annual interest rates r1 and r2 are equivalent. True or False: If r1 has a lower compounding frequency than r2, then r1 is larger than r2.

(IV) True or False: The higher the interest rate, the larger the present value of an annuity.