Which of the following statements are most likely to be false? I. The effective annual interest rate wl always be higher than the quoted (or annual percentage) interest rate. 11. If you were borrowing funds from a bank, and the quoted interest rate was 6% p.a., you III. All else being the same, the present value of an ordinary annuity will be greater than the a) I and II only would be better off if the bank used quarterly compounding rather than monthly compounding present value of an annuity due. b) andI only. c) and III only. d) I II and