Which one of the following statements is True?

1. The equivalent Continuous rate per annum is greater than the compound rate per annum.
2. The Effective Rate is less than the equivalent Continuous rate per annum
3. The periodic compound rate equals the Nominal rate per annum times the number of compounding periods per annum
4. The choice of Focal Date does not affect the solution of an equation of value in Compound Interest
5. Simple Interest is an example of Exponential Growth and Decay.