Which of the following statements about Time Value of Money is FALSE ?

1- Everything else being equal , the future value of an Annuity Due is always higher than that of an Ordinary Annuity , but the present value of an Ordinary Annuity would be higher compared to the comparable Annuity Due .

2- The rule of 72 tells you approximately how long it takes for money invested at a given rate of compound interest to double in value .

3- To calculate a present value of a cash flow that will occur in the future , you must discount it .

4- It is not possible to compute the future value of a perpetuity because the time period ( n ) is not determinable