Which of the following statements is false?

a. If the discount (or interest) rate is positive, the future value of an expected series of payments will always exceed the present value of the same series

b. To increase you prevent consumption beyond your present income would normally require you either to pay some interest or else to incur an opportunity cost of foregone future investment income

c. Disregarding risk, if money has time value, it is impossible for the present value of a given sum to be greater than its future value

d. Disregarding risk, if the present value of a sum is equal to its future value, then either k=0 or t=0

e. Each of the above statements is true

NOTE - THE ANSWER IS NOT E