questions 3-6. Please include explanations.

True False o O 1. When solving for the future value of an annuity, the last cash flow earns no interest. 2. Other things equal, the FV of an ordinary annuity the PV of an ordinary annuity. O O 6. The payment on a discount loan is simply the future value of the loan. O 0 7. Mortgage payments are an example of an ordinary annuity. O 0 8. In an amortization schedule, annual interest expense increases from one year to the next. 9. If you save $100 annually for 30 years and earn 4%, your future value the rate you could earn. 11. Ordinary annuities assume that payments occur at the end of each period. 0 O 0 O 12. Cash flows of $100 in years 1, 3 and 5 constitute an annuity. 0 0 13. If r = 12% and n= 12, the PVIFA > 6. 0 0 14. A Canadian consol is a bond that matures in exactly 100 years. 0 0 15. With a discount loan, interest is not paid until the loan matures. 0 O 16. An amortized loan is the payment method of the bond market. 0 0 17. U.S. Treasury bills are an example of interest-only loans. O O 18. The annual payment on a 25-year amortized loan of $100,000 at 9% > $9000. O 0 19. If r= 15% and n= 5, the payment on a $5000 discount loan > $10,000. 0 0 20. If r6% and n=6, the FVIFA > 7. NAME &