Which of the following statements about spot rates and forward rates is not true? Possible Answers To find the PV of a single-payment made at time t, we use the t-year spot rate, rt The t-year spot rate rt is the yield rate of an investment that makes a single payment at time t To find the PV of a single-payment made at time t, we use the forward rate f[t,t+1] The m-year forward rate, deferred t years, f[t,t+m], is the effective annual interest rate earned on an investment made t years from now over the following m years A spot rate is the yield rate of a zero-coupon bond with a given term to maturity