How is answer generated to 12?

Question

What is the output of the following code?
int f=1, i=2;
while(++i<5) {
f*=i;
}
cout<<f;

Answer 1

i=2
i=i+1<5==true&&i==3
f = 3
i=i+1<5==true&&i==4
f = 12

Answer 2

the output of this would be 12. each time in a while loop i is incremented by 2 and then checked whether it is less than 5 or not.. and in the loop f*=i; mean f=f*i;