1. Due to compounding interest, the actual interest rate you pay is always higher than the annual percentage rate. True or False
2. The adjusted balance calculates interest based on the previous month’s balance after any payments have been deducted. True or False
3. The depository institutions Deregulatory Act of1980 has resulted in an increased number of financial products available for individuals managing their cash. True or False
4. A progressive tax is a tax that increases over time. True or False
5. To compare which or two cash flows occurring at different times is preferred you should compare the net present value of the cash flows. True or False
6. The future value of a current investment earning a positive rate of return is always greater than the present value of the investment. True or False