Identify whether the following statements about the simple and compound interest methods are true or false Statement True False After the end of the second year and all other factors remaining equal, a future value based on compound interest will never exceed the future value based on simple interest. All other variables held constant, investments paying simple interest have to pay significantly higher Interest rates to earn the same amount of interest as an account earning compound interest All other factors being equal, both the simple interest and the compound interest methods will accrue the same amount of earned interest by the end of the first year