True or False

1) When solving for a future of an annuity, the cash flow earns no interest.

2) Other things equal, the FV of an ordinary annuity< the FV of an annuity due.

3) When solving for a present value of an annuity,, all cash flows are discounted.

4) N/A

5) Other things equal, the PV of an annuity due > the PV of an ordinary annuity.