The greater the number of years, the: Smaller the future value of a single sum Larger the present value of a single sum. Larger the present value factor. , smaller the future value factor. Greater the compounding effect. The future value will increase: I. The longer the period of time. Il. The shorter the period of time. Ill. The higher the rate of interest. IV The lower the rate of interest. I and II only O I and IV only Il and Ill only Il and IV only Future value will never increase