The price of a dishwasher today is $500 and inflation is 10% per year. Therefore, in two years the price of the dishwasher is expected to be $600. Select one: True False Tim invested $1,000 in a mutual fund paying 8% per year. John invested $500 in the same fund. If both Tim and John keep their money invested for the same period of time, Tim will end up with twice as much money as John. Select one: O True False 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. Select one: True False