a. If the interest rates are changed from 8%compounded annually to 8% compounded monthly, which of the following would betrue? 1) The future value of a series of dollar values woulddecrease. 2) The present value of a single dollar figure wouldincrease. 3) The present value of a series of dollar figureswould decrease. 4) The present value of an annuity of equal paymentswould increase.