Page 1: 1 2 Question 1 (6 points) Which of the following statements are true? (select all that apply, he just one or as many as all of them) The present value of annuity due is calculated on the same day the first payment occurs In a deferred annuity, Interest charges begin to accrue more than one period after the annuity begins The payment of an annuity cannot vary over time The expected cash flow approach requires companies to use a higher interest rate to reflect the risk of the investment The future value of annuity due is calculated on the same day the last payment occurs The present value of annuity can be calculated as the sum of the present values of each individual payment