Enter T or F depending on whether the statement is true or false. (You must enter T or F -- True and False will not work.)

 1. At the same annual interest rate, it will take $500 longer to double in value than $5,000.
 2. The interest earned for P dollars at the end of 2 years at 12% compounded quarterly equals the interest earned for P dollars at the end of 8 years at 3% compounded annually.