Which of the following statements is correct?

Points: 1

1. Future values are always smaller than present values when both r and t are positive.

2. Future values are always equal to present values when both r and t are positive.

3. If the rate at which you can invest is 2%, the value today of $1 to be received in the future, is less than $1.

4. If the rate at which you can invest is 10%, the future value of $1 received today, is less than $1.