Mark each statement true (T) or false (F), and fill in the blanks in Part (e).
a. T F The nominal interest rate will always be less than the effective interest rate when r = 10% and M = ∞.
b. T F A certain loan involves monthly repayments of $185 over a 24-month period. If r = 10% per year, more than half of the principal is still owed on this loan after the 10th monthly payment is made.
c. T F $1,791 in 10 years is equivalent to $900 now if the nominal interest rate is 8% compounded semiannually.
d. T F The(P/A, i%, N)factor equals N ∙ (P/F, i %, 1).
e. Fill in the missing interest factor:
i. {P/A, i %, N) (-------) = (F/A, i %, N).
ii. (A/G, i %, N)(P/A, i %, N) = (-------).