Which of the following statements is false with respect to the present value of a future amount?

Select one:

a. The higher the discount rate, the lower the present value of a single sum for a given time period.

b. The lower the discount rate, the lower the present value of a single sum for a given time period.

c. none of the answers is correct.

d. The relation between present value and time is exponential.

e. The greater the time period, the lower the present value of a single sum for a given interest rate.