Which of the following statement is incorrect? O With an ordinary annuity, the cash payments occur at the beginning of each time period. O Most of the answers are correct. O When we calculate the present value of a future promised or expected cash payment, we discount it because the same amount of money is worth less if it is to be received later rather than now. O The entire interest earned on investments is called compound interest which is composed of interest earned on interest and simple interest that is earned on the original principal. O An example of a perpetuity is the dividends typically paid on a preferred stock issue. ng statement is incorrect? O With an amortized loan, the amount of interest increases each year, and the amount contributed to principal decreases each year. O With an amortized loan, the amount of interest decreases each year, and the amount contributed to principal increases each year. O A given amount of money you must pay out today is a greater burden than the same amount paid in the future. O Money grows over time when the interest rate is positive. O Most of the answers are correct. Which of the following statement is incorrect? O When we consider the time value of money, a dollar received in the future is worth less than a dollar received today. OA perpetuity is a series of equal payments at equal time intervals that will be received into infinity. Most of the answers are correct. O With an amortized loan, the equal amounts is paid off that include only the simple interest on the principal. O With an amortized loan, after the last payment is made, all the interest and principal on the loan have been paid