WHICH OF THE FOLLOWING STATEMENTS IS/ARE ACCURATE WITH RESPECT TO...

21. Which of the following statements is/are accurate with respect to time value of money? All else being the same. I. present values increase as the discount rate increases II. present values increase as the future value is further away in terms of time III. present values are always smaller than future values when both “r” and “t” are positive. A) I only B) I and II only C) II only D) III only E) II and III only Solution: D