1(a.) (TRUE or FALSE?) We mark it up the value of a future promised or expected cash payment because it is worth more if the same amount of money is to be received later rather than now.

1(b). (TRUE or FALSE?) Money expected or promised in the future is worth less than the same amount of money in hand today.

1(c). (TRUE or FALSE?) The payments of an amortized loan reflect a decreasing amount going toward principal and an increasing amount going toward interest over time.