TRUE$/$FALSE $-$ Write $\text{'}T\text{'}$ if the statement is true and $\text{'}F\text{'}$ if the statement is false.

Personal financial planning is the process of managing your money to achieve personal economic satisfaction.

$(0)$ true

$()$ false

A financial plan is an informal report that analyzes past financial decisions. true

$($c$)$ false

A financial plan can only be created using a money management software package.

$($o$)$ true

$()$ false

Inflation is a rise in the general level of prices and it reduces the buying power of the dollar.

true

$($c$)$ false

When prices are increasing at a rate of $4$ percent, the cost of products would double in about $18$ years.

$()$ true

false